The Enterprise Incentive Scheme (EIS) is a tax rebate scheme that Her Majesty’s Revenue and Customs (HMRC) promotes to encourage small investor participation in the generation of new businesses.

Assuming an investor is a UK based tax payer, 30% of an individual’s investment can be re-claimed as a tax rebate in an EIS eligible company formation subject to certain conditions. The rebate is only applicable to the initial share capital, in our case £450,000, and is limited to a maximum individual holding of 5% but not valid if shares are jointly owned, and/or cannot be for less than an investment of £500. Shares must be held for 3 years from their issue date, failure to comply would lead to HMRC seeking reimbursement of the tax relief. Please visit HMRC's website for full information.

We are pleased to confirm that the purchase of The Sorrel Horse public house by The Sorrel Horse Shottisham Ltd is an EIS eligible investment and that rebate forms, totalling a collective overall rebate of more than £110,000 were posted to all current investors (as at 3rd February 2012) during week commencing 6th February 2012.

There are three stages to an EIS application:
EIS 1 is the application for eligibility of the tax rebate status. This is made by the company after four months of trading
EIS 2 is HMRC's acceptance that the investments and company meet the rules governing the EIS
EIS 3 forms are posted to each investor and these can then be submitted to HMRC as part of a personal tax return

For any new share certificate issues, the The Sorrel Horse Shottisham Ltd will process EIS applications periodically returning EIS 3 forms when they are received back from HMRC.

Important note: Investors may make multiple share purchases at different times and the shares will remain eligible for tax relief on each purchase (providing the EIS conditions are met) providing the shares are purchased from the initial share capital amount.

As of 10th April 2012 the remaining number of shares remaining to be sold and for which a tax rebate can be claimed is only 120. If you wish to purchase shares, either as a new or existing shareholder, please download the Share Application Form by clicking here.

If you have any questions regarding the purchase of shares please email admin@thesorrelhorse.com

The Sorrel Horse Shottisham Ltd cannot give guidance on any tax issues and/or financial planning and strongly encourages existing or potential investors to seek independent tax advice regarding their own personal circumstances.