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Aug 2013


**** STOP PRESS! GET 50% OF YOUR MONEY BACK ****

Since publishing the Second Share Offer document (see below), HMRC has confirmed that, like many other Community Shop Projects we qualify for Seed Enterprise Investment Scheme status (SEIS). This is great news for many investors because for every £10 you spend buying shares HMRC will give you £5 back !  SEIS can also relieve Capital Gains Tax liability.

To qualify, you must be a UK income tax payer and you must hold the shares for 3 years.

When the shop has been trading for 4 months or when it has spent most of the money invested we will send you a form which you use to claim tax relief. It’s as easy as that.

So if you are a tax-payer...tick the box on the application form, decide what you want to invest, double it and reclaim half from HMRC.

Obviously there is a bit more to this so we advise all potential investors to get more information from www.hmrc.gov.uk/seedeis/ . Unfortunately this scheme does not apply to shares bought before April 2012.


SPAXTON COMMUNITY SHOP SOCIETY LTD

SECOND SHARE OFFER

The first share offer was launched in March 2011. At that time there were 17 Community Shops in Somerset but we were not sure if there was sufficient support (or funding) for one in Spaxton. In the event the take-up of shares exceeded our target and the project was up and running.

The Society decided on a new shop close to the village hall and sought funds to build it. By early 2012 a design that was acceptable to our society and the village hall committee was agreed. Planning permission was obtained at the end of 2012. Through all this process the society kept residents and shareholders informed of the progress and occasional setbacks. It has worked closely with the village hall committee and Tony in the post office. Both fully support the project.

With the help of the first share offer, donations, grants and loans the Society now has sufficient funds to commission the building. Several companies have shown interest and they have been sent invitations to tender.

So why is the society seeking further support?

  • We do not have all the money needed - but we are not far off.

  • Getting in more funds allows us to choose more sustainable options such as efficient refrigeration and quality fittings that will save money in the long run.

  • The Society needs as many members as possible to make it really representative of the community.

If you are already a shareholder, thank you for your continuing support. If you feel able to increase your shareholding we would be very grateful. But perhaps you are new to the area or chose not to buy shares the first time round. Perhaps you were just too young! This is your chance to join.

It is now likely that purchasing shares in our project will attract significant personal tax relief. At the time of writing this we are seeking confirmation from HMRC that this share offer is eligible. *****SEE ABOVE*****

Any doubts?

  • Since our first share offer 5 more community shops have opened in Somerset. Of the 22, 19 are in villages smaller than Spaxton. 18 are closer to a supermarket.

  • There are over 300 Community Shops in Britain. Since 2011 none have failed!

  • Our community shop will have low running costs. Some goods can be cheaper than supermarkets and it will be more pleasant and sociable.

  • As well as the usual range of products our community shop will sell local produce.

  • It will offer a range of services that the community needs.

  • Profits will help to fund other community projects.

  • And having a community shop in the village will add to the value of your home!

THERE IS A LOT MORE INFORMATION IN THE SHARE OFFER DOCUMENT WHICH IS BEING DISTRIBUTED WITH THE AUGUST/SEPTEMBER EDITION OF THE SPAXTON COMMUNITY NEWS,

OR YOU CAN DOWNLOAD IT FROM OUR  SECOND SHARE OFFER  PAGE.


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