What is SEIS?
SEIS or Seed Enterprise Investment Scheme is an incredibly generous tax scheme to help encourage new enterprises. Individual tax payers will be eligible for 50% of their investment back as tax relief in the first year.
MaidEnergy is a Community Benefit Society, a kind of social enterprise and therefore was eligible for the scheme. I say was, because the government recently moved to change all this. In order for your investment in community energy to be eligible for SEIS you need to have applied for shares by 18th November.
The best place for information about SEIS is here https://www.crowdcube.com/pg/seis-tax-relief-42#benefits
What does this mean for MaidEnergy?
MaidEnergy is still committed to doing as many as possible of our 6 installations before October next year. However, the income for investors will be less after the 18th November. Therefore we are urging as many people as possible to invest before then.
We will continue to fundraise and hope to still get more investment after this date, but we realise it will be harder. However, if you are looking for a local, ethical investment, 4.3% is still not a bad rate of return.