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ART Business Loans

ART - CITR Withdrawable Shares

£500 minimum

ART is an accredited Community Development Finance Institution (CDFI). As a result, investments in ART are eligible for Community Investment Tax Relief (CITR).

 


Minimum raise for offer to proceed

No minimum


Financial return

Shares are offering a tax relief of 5% per anumn of the initial monies invested for 5 consecutive years.

This is a Tax Relief based offer.  So whilst 5% of the value of your investment can be claimed off your personal or corporation tax payments each year for 5 years, there is no interest paid.


Social return

ART focuses its lending to create and preserve jobs, in particular to those who have been traditionally deprived of opportunities, for example, enterprises geographically located in areas of disadvantage or led by Black, Asian and Minority Ethnic (BAME) people, women or disabled individuals. At least 75% of the businesses that ART lends to fall into these categories.


Minimum investment amount

£500

You must order a minimum of 500 shares.


Maximum investment amount

£100,000

The maximum shareholding any individual or institution can hold in ART cannot exceed £100,000


Getting your money back

A CITR eligible share investment must carry no right to be repaid for a period of five years from the date of the investment. Therefore shares raised through this offer are not redeemable at any stage during the first five years following the date of the investment.

At the end of that five year period shares purchased under the terms of this offer are withdrawable at the request of the investor, subject to the rules of ART. ART will write to all investors towards the end of the five year period and it is ART’s intention to invite investors either to withdraw their shares at that point or to reinvest them in ART through a fresh issue of shares.


Claiming CITR

ART will issue a tax certificate to investors, which will include their name, address and size of their shareholding in ART.

Whilst an investor does not have to submit the tax certificate to HMRC, they will have to claim the relief – ART is not able to do this on their behalf. Individual investors should claim relief on their self assessment tax return for each tax year for which relief is due. If you do not normally complete a tax return, you will need to request one from HMRC.

A corporate wishing to claim relief should claim as part of its corporate tax return for each appropriate accounting period.


Keeping track of your investment

The details of your investment are recorded on your share certificate and by the Society.

Share certificates are issued by the society or their registrar.


Membership

Investors in ART automatically become members of ART. Investors can be individuals or corporates. ART currently has more than 300 investor members, who have invested a total of over £750,000 over the years.

All members, in line with the rules of the Society, are entitled to vote at the Annual General Meeting or, if called, at Special General Meetings. Each member has one vote, irrespective of the size of their investment.


Tax Releif

Investors should be aware that the investment must be left in place for 5 years and the tax relief is limited to the amount of tax you pay. If the tax liability is less than the tax relief claimable, the investor can carry over the relief to the following year (but this is only possible within the tax years that relate to the five years of the investment). This means that if you think you may not be paying tax at some point over the next five years, this investment may not be appropriate for you. Investors should note that the relief is claimable in the tax year or the accounting period in which the investment is made (and the four subsequent tax years or accounting periods).

£10,0002%
Applied for to date, of
£500,000 target

Need help?

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https://www.ethex.org.uk/savings--investments_16.html

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