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Charge My Street

Charge My Street - 2020 Share Offer - OFFER CLOSED

£100 minimum

Charge My Street is a not for profit Community Benefit Society in the business of financing and installation of Electric Vehicle (EV) charge points. Its vision is to create the infrastrucure needed so that all homes have access to a charge point within a 5 minute walk.  This is especially import in areas where people do not have their own driveway. 

Investment is in Community Shares which are targeting a 2% interest rate and can be withdrawn 3 years after the offer closes.

Minimum raise for offer to proceed

No minimum

Financial return

This is primarily a social investment, but Charge My Street can pay interest on share capital. Charge My Street forecast that they will be able to pay a target interest payment of 2% per annum from 2023, rising to 5% from 2025 (subject to performance). Interest will start to accrue following the Society's financial year end in 2022, and is payable in 2023. Shares can be withdrawn from a point 3 years after the share offer closes and shares have been issued.

Investors will have the option for share interest to be credited to their share account as new shares, or paid in cash.

Social return

One of the main barriers to adoption of electric vehicles (EVs) in the UK is a lack of chargepoints. This is a particular problem where people do not have their own driveways because they live in flats, terraced houses or rented accommodation.

Transport is responsible for about a third of the UK’s carbon emissions and, unlike other sectors, transport emissions have not been cut significantly since 1990. To tackle the climate emergency, we really need to cut back on petrol and diesel for transport. Pollution levels often breach legal limits and most councils in the North West have had to establish Air Quality Management Areas.

Part of the solution is to switch to electric vehicles (EVs). These are more efficient than petrol and diesel vehicles and the electricity they use can be generated by renewables. They will also have a role in helping to balance the electricity grid: providing storage when solar, hydro and wind power exceeds national demand.

Minimum investment amount

Charge My Street are offering £1 shares, with a minimum investment of £100.

Maximum investment amount

Charge My Street are offering £1 shares, with a maximum investment of £15,000.

Tax Relief

This share offer has Advance Assurance from HMRC that it qualifies for Seed Enterprise Investment Scheme Tax Relief. That means investors will be able to claim tax reliefs on the value of their investment (dependent on personal circumstances):

  • 50% of their income tax liability for the current or previous tax year (you choose which one to claim it against)
  • 50% relief of Capital Gains Tax on any capital gains used to invest into the share issue

So, if you invested £500, you would be eligible to reduce your tax bill by £250. If you used a capital gain to make the investment, you’d also reduce your capital gain tax liability on it from £140 to £70, giving a combined tax benefit of £320 In order to benefit from the tax relief, you must be a UK income and/or capital gains tax payer with tax due to pay equal or greater than the amount of relief you’re seeking.

Charge My Street intend to apply for the tax relief certificates following the successful close of this offer, and send them to investors shortly after that. The tax relief can be applied to the year you choose – either the year the investment was made, or the previous tax year.

If you pay tax via PAYE, you send the certificate to the tax office that processes your employer’s payroll tax collection, and if you do self assessment, you claim the relief when completing your tax return (unless you want to backdate it for a tax year you’ve already filed a return for, in which case you have to contact HMRC directly).

SEIS relief is only available on the £130,000 of investment sought (from individuals i.e. excluding organisational investment). Charge My Street are not looking to raise investment in excess of their SEIS limit at this time, but may launch an EIS eligible offer in the future.

As a condition of being able to offer the relief, no investment can be withdrawn for at least three years after the date of the investment, and Charge My Street will therefore not be in a position to consider withdrawal requests until 2023 at the earliest, and their financial projections are built around this withdrawal starting in that year.

Tax advice cannot be given, and the Society can only vouch that they have received Advance Assurance from HMRC that the investment qualifies for SEIS. Anyone considering investing with tax relief in mind should contact a financial advisor to establish whether they themselves would be eligible.

Getting invested money back

Shares are withdrawable by request for the Society to return your investment. Charge My Street will allow withdrawals to take place 3 years after the share offer has closed and shares have been issued.  The 3 year holding period is a requirement for SEIS eligibility. Shares are withdrawable up to a maximum of 5% per annum of share capital in issue at the end of the financial year, this will rise to 10% per year by 2025. Within this ceiling, individual requests to withdraw will be at the discretion of the Board. The scope for being able to withdraw shares in the future will be dependent upon the Society developing a successful business and hence cash flows to pay out share withdrawals. 

How secure is invested money?

Payment of interest and capital is not guaranteed and is dependent on the continued success of Charge My Street's business model. This investment is not covered by the Financial Ombudsman and there is no deposit guarantee scheme for this product.

Keeping track of your investment

The details of your investment are recorded on your share account with the Society.  Share certificates will be issued by the Society following the close of the share offer.

Each year Charge My Street will publish a set of accounts.


Every investor becomes a member of the Society, eligible to an equal vote on all matters at the charity’s AGM and in elections to the Society’s board of Directors (elections in which any member can stand too).

Nomination and Inheritance Tax

In the event of the death of a member, the repaid value of the shares will normally be added to the estate for probate purposes. You may elect to nominate a recipient for the value of the shares (but only up to the amount set out in law) and thus (under current legislation) remove the value of the shares (up to the amount set out in law) from your estate for probate purposes i.e. the shares may pass to the nominee outside the Will of the deceased. The nominated property will nevertheless form part of the deceased’s estate for Inheritance Tax purposes, unless the estate is an excepted estate.

Who can invest

Individuals over the age of 16, charities, trust funds, Small Self Administered Pension Schemes, nominee services and corporate entities, groups and associations, and other organisations may invest in this offer. Shares cannot be held in joint names.

Offer closed

As of the 26th May 2020 this offer is closed.

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