EIIS Oportunities

lstmd

HI all

Has anyone any advice on EIIS schemes? Curious which schemes have the least risk. Are there any schemes which you are sure you can sell your investment at the end of the term. I would be afraid I would be unable to liquidate my investment at the end of the term.

Thanks for any advice

Cute Hoor

By definition there cannot be an EIIS investment where you are guaranteed to be able to liquidate your investment in full, Revenue wouldn't be overly enthusiastic about that. IMO windfarm investments offer the least risk but no guarantees. These won't really kick into place for 2017 until late November/December, no point in investing before then.

lstmd

Does anyone know of an investment fund which specialises in investments in windfarms ? My concern would be an inability to get your cash back at the end of the four years. E.g. you invest €10k and get the tax relief equating to €4k but are unable to get the €6k back for many years if at all therefore the return per year is significantly diluted. If you could get the €10k back after the four years without any return on the investment the tax relief would make the investment worthwhile.

Cute Hoor

lstmd wrote: »

Does anyone know of an investment fund which specialises in investments in windfarms ? My concern would be an inability to get your cash back at the end of the four years. E.g. you invest €10k and get the tax relief equating to €4k but are unable to get the €6k back for many years if at all therefore the return per year is significantly diluted. If you could get the €10k back after the four years without any return on the investment the tax relief would make the investment worthwhile.

http://www.hlbmckeoghgallagherryan.ie/services/taxation/eiis/

duffysfarm

towards the tax deadline i.e. October you will see a lot of adds in business sections. One of the better firms is Cantor Fitzgerald. There are some which have a eiis fund which basicly spreads the risk - i think Davy do one of these. You will see a lot of wind farms when it comes to investing. i invested inthe Great Northern Distillery last year myself. Was looking at another one which looked good but when i compared the prospectus to what was on record at the CRO they were totally different which really scared me. Another one that i though looked good is now closed down so i think you have to be careful and i would only go with some one that was been promoted by a reputable name. One other thing to note is that if you make an investment in 2017 then you dont get the tax benefit until 2018 when you prepare your 2017 tax return - that is what happened me last year and i got a surprise as i thought you would get the benefit for the previous years tax return which would be the case with a pension.

lstmd

Thanks for the advice. I guess plenty of information will be available from October onwards.

Cute Hoor

duffysfarm wrote: »

One other thing to note is that if you make an investment in 2017 then you dont get the tax benefit until 2018 when you prepare your 2017 tax return - that is what happened me last year and i got a surprise as i thought you would get the benefit for the previous years tax return which would be the case with a pension.

Not sure what you mean here but you get the tax relief (the first 30%) for the tax year that you invest. So if you invest on 31th December 2017 you will get the tax refund (the first 30%) for tax year 2017. Obviously you can't claim it until early 2018 when you do your 2017 tax return.

duffysfarm

yes thats what i mean but if you compare it to a pension, if you invest in a pension in 2017 it can be offset against your 2016 income/tax return and the tax relief is more immediate

Cute Hoor wrote: »

Not sure what you mean here but you get the tax relief (the first 30%) for the tax year that you invest. So if you invest on 31th December 2017 you will get the tax refund (the first 30%) for tax year 2017. Obviously you can't claim it until early 2018 when you do your 2017 tax return.