We’re pleased to report that GreenMine has been awarded advanced assurance for the Enterprise Investment Scheme (EIS).

This assurance confirms that HMRC agrees that an investment in GreenMine would meet the conditions of a venture capital scheme and that the company can issue certificates to investors to claim tax relief.

All businesses applying for the EIS must submit extensive data for HMRC’s due diligence process, including the business plan and financial forecasts, how investments will be used, details of all trading, activities and expenditures, and the investor proposal.

What is the EIS?

The EIS was launched in 1994 by the UK government as a way to encourage investment in small UK companies. EIS is a series of tax reliefs that benefit investors when they invest in eligible start-ups or early-stage businesses. In turn, the scheme benefits small businesses by turning them into more attractive investment opportunities (by reducing potential investor losses), making it easier for them to acquire the investment they need to grow.

Find out more at Gov.uk