Committed Capital invests on behalf of EIS Portfolio Service investors in a portfolio of EIS-eligible companies. Our EIS Portfolio Service is open ended, enabling subscriptions to be made at any time.
Thus, individual investors portfolios will vary depending upon when each subscription was made. Each investor has an account administered by our Nominee, Mainspring Fund Services. Interest on cash balances accrues to the investor. The minimum subscription to the EIS Fund is £15,000.
Capital is returned to investors as realisations are made and will not be re-invested by us unless we are specifically instructed otherwise. Investors may re-subscribe to our EIS Portfolio Service at any time.
EIS relief is obtained on a deal by deal basis. Committed Capital will send each investor an EIS 3 certificate after each investment is made (this is obtained by the portfolio company from HMRC). The EIS 3 certificate is then filed with HMRC, often with a tax return, in order to obtain the EIS tax reliefs. From 2019, soft copy EIS3s will be available and these will be sent to the investor instead of a paper copy, as the investee companies adopt this format.
The above information is not comprehensive and more detailed information is available in the Committed Capital EIS Portfolio Service information memorandum. If investors are not sure of their individual tax position they should seek the advice of a tax expert.
Further information is also provided in the Key Information Document (“KID”) provided on the link below.