Committed Capital invests on behalf of EIS Fund investors in a portfolio of EIS-eligible companies. The EIS Fund is structured as a series of Customer Agreements with individual accounts. Our EIS Fund 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 £25,000.
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 Funds 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.
The above information is not comprehensive and more detailed information is available in the Fund information memorandum. If investors are not sure of their individual tax position they should seek the advice of a tax expert.