Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Has anyone invested in an EII project/scheme?

Options
13567…10

Comments

  • Options
    #62
    Gman1987
    Registered Users Posts: 369 ✭✭Gman1987


    One More Toy wrote: »
    Hi gman

    Just wondering where you would find direct opportunities to invest in individual companies?

    Thanks
    Omt

    Most tend to advertise in the SBP. They ran a special on EIIS options about three weeks ago. Their generally isnt that many options available so Cute Hoor has already listed anything that I seen this year.


  • Options
    #63
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Gman1987 wrote: »
    Most tend to advertise in the SBP. They ran a special on EIIS options about three weeks ago. Their generally isnt that many options available so Cute Hoor has already listed anything that I seen this year.

    Thanks, the sbp is a good read but I never get the time :(


  • Options
    #64
    caviardreams
    Registered Users Posts: 5,439 ✭✭✭caviardreams


    curiousinvestor wrote: »

    I've asked bvp this morn about the return of tax / declaration etcetc. I didn't get a straight answer, other than it may take a year to get the declaration sorted. So I'm reading that as I won't claim on the 2020 tax return,its 2021. So thats not great

    No, I think if you invest the money in 2020 you claim it back from your 2020 tax paid, however the delay in getting the documentation sorted means it would be well into 2021 before you could actually claim it back and get the refund.


  • Options
    #65
    curiousinvestor
    Registered Users Posts: 67 ✭✭curiousinvestor


    caviardreams wrote: »
    No, I think if you invest the money in 2020 you claim it back from your 2020 tax paid, however the delay in getting the documentation sorted means it would be well into 2021 before you could actually claim it back and get the refund.

    yes you are correct caviardreams.
    I didn't proof read my post i meant get refund i
    2021 Apologies all.


  • Options
    #66
    duffysfarm
    Registered Users Posts: 846 ✭✭✭duffysfarm


    i have invested in the Great Northern Distillery and this will hopefully mature next year. i think this sector looks a bit saturated at the moment. There is a distillery in ballymahon which makes gunpowder gin and it is open this year but there are a few questions around this also.
    took part in the BVP webinar a short time ago and i have received a lot of calls from them since then and this is disappointing considering some of the earlier posts.
    Was looking at the Crematorium before and was going to do it - looked interesting with long term prospects.
    I think some of the smaller ones with better prospects get snapped up by a small group that are either private clients or the accountants themselves


  • Advertisement
  • Options
    #67
    curiousinvestor
    Registered Users Posts: 67 ✭✭curiousinvestor


    I'm still looking at the distillery in Killarney.
    The new premises and visitor centre is half built


  • Options
    #68
    duffysfarm
    Registered Users Posts: 846 ✭✭✭duffysfarm


    Took a look at their website and they seem to be a decent company in that they have raised a good but in the past so seem to have a good track record. May look further into this
    curiousinvestor wrote: »
    I'm still looking at the distillery in Killarney.
    The new premises and visitor centre is half built


  • Options
    #69
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Are there eii schemes advertised regularly in the business post? Thinking of taking a subscription in the new year. Or is it geared towards the end of the year mostly?


  • Options
    #70
    duffysfarm
    Registered Users Posts: 846 ✭✭✭duffysfarm


    If you take out an investment now you will.get the relief on 2021 income which will be submitted some time in 2022 so people tend to wait towards the end of the year so there money qont be tied up as long. Not many of yhe schemes would be open early in the tlyear because of this
    One More Toy wrote: »
    Are there eii schemes advertised regularly in the business post? Thinking of taking a subscription in the new year. Or is it geared towards the end of the year mostly?


  • Options
    #71
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    duffysfarm wrote: »
    If you take out an investment now you will.get the relief on 2021 income which will be submitted some time in 2022 so people tend to wait towards the end of the year so there money qont be tied up as long. Not many of yhe schemes would be open early in the tlyear because of this

    If you invest in an EIIS business (as opposed to fund) now you will get your tax relief on 2020 income, and you will get it in early 2021. SBP generally speaking only start advertising EIIS schemes from early to mid November, because these schemes are generally not available before then. Makes sense to invest as late as you can in the current year and get your income tax refund as soon as possible in the following year.


  • Advertisement
  • Options
    #72
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    If anyone sees any schemes pop up will you let us know? I'm specifically interested in wind farms.

    Timing doesn't matter as I know what my income will be for 2021

    Tia
    Omt


  • Options
    #73
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Just out of curiosity, are eii schemes advertised in the business post throughout the year or is it tailored towards the end of the year?

    It's a good read anyway I'm thinking of getting it delivered


  • Options
    #74
    Water John
    Registered Users Posts: 21,142 ✭✭✭✭Water John


    End of year.


  • Options
    #75
    sector_000
    Registered Users Posts: 419 ✭✭sector_000


    Cute Hoor wrote: »
    Did the Goodbody prospectus identify the businesses you would be investing in, I'd be concerned if they didn't.

    They mentioned some of the companies by name they were considering (typically ones funded in the prior year coming back for another funding round), and then gave sector categories for their other contenders.


  • Options
    #76
    sector_000
    Registered Users Posts: 419 ✭✭sector_000


    Coming a bit late to this thread...

    I invested in two BES (precursor to EIIS):
    - 2009 - 5~6 different sub-investments.... got all the tax relief, but only got 75% of my gross money back (so far!).... hit by GFC. Might get another ~10% more.
    - 2011 - windfarms, good, paid ~14% bonus (plus all the tax benefits), took 6 years from start to payout

    EIIS investments:
    - 2012 - windfarm - all good
    - 2013 - windfarm - all good
    - 2014 - windfarm - all good
    - 2015 - windfarm 1 & 2 - all good
    - distillery - company screwed up tax relief rules - but expect to get a reasonable payout in H1'2021
    - fund - invested into 5 different sub-investments - however, maturity definitely delayed...
    and I believe some impairment is likely due to Covid
    - 2016 - distillery - expect to mature good - offered an election to defer maturity till 2022 to optimize tax treatment of bonus (CGT vs IT)
    - company1 - cautiously optimistic will get paid in 2021
    - company2 - much more speculative high-tech company, dependant on a buyout

    I've also invested in various EIIS from 2017 to present.

    Best to spread your risks around the place.


  • Options
    #77
    westgolf
    Registered Users Posts: 828 ✭✭✭westgolf


    sector_000 wrote: »
    Coming a bit late to this thread...

    I invested in two BES (precursor to EIIS):
    - 2009 - 5~6 different sub-investments.... got all the tax relief, but only got 75% of my gross money back (so far!).... hit by GFC. Might get another ~10% more.
    - 2011 - windfarms, good, paid ~14% bonus (plus all the tax benefits), took 6 years from start to payout

    EIIS investments:
    - 2012 - windfarm - all good
    - 2013 - windfarm - all good
    - 2014 - windfarm - all good
    - 2015 - windfarm 1 & 2 - all good
    - distillery - company screwed up tax relief rules - but expect to get a reasonable payout in H1'2021
    - fund - invested into 5 different sub-investments - however, maturity definitely delayed...
    and I believe some impairment is likely due to Covid
    - 2016 - distillery - expect to mature good - offered an election to defer maturity till 2022 to optimize tax treatment of bonus (CGT vs IT)
    - company1 - cautiously optimistic will get paid in 2021
    - company2 - much more speculative high-tech company, dependant on a buyout

    I've also invested in various EIIS from 2017 to present.

    Best to spread your risks around the place.

    Well done on such a comphrensive spread. Did you use someone like Davy's or was it D.I.Y ?


  • Options
    #78
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    sector_000 wrote: »
    Coming a bit late to this thread...

    I invested in two BES (precursor to EIIS):
    - 2009 - 5~6 different sub-investments.... got all the tax relief, but only got 75% of my gross money back (so far!).... hit by GFC. Might get another ~10% more.
    - 2011 - windfarms, good, paid ~14% bonus (plus all the tax benefits), took 6 years from start to payout

    EIIS investments:
    - 2012 - windfarm - all good
    - 2013 - windfarm - all good
    - 2014 - windfarm - all good
    - 2015 - windfarm 1 & 2 - all good
    - distillery - company screwed up tax relief rules - but expect to get a reasonable payout in H1'2021
    - fund - invested into 5 different sub-investments - however, maturity definitely delayed...
    and I believe some impairment is likely due to Covid
    - 2016 - distillery - expect to mature good - offered an election to defer maturity till 2022 to optimize tax treatment of bonus (CGT vs IT)
    - company1 - cautiously optimistic will get paid in 2021
    - company2 - much more speculative high-tech company, dependant on a buyout

    I've also invested in various EIIS from 2017 to present.

    Best to spread your risks around the place.

    Where do you find the offerings mostly? Would you say that they are more geared towards the end of the year?


  • Options
    #79
    sector_000
    Registered Users Posts: 419 ✭✭sector_000


    One More Toy wrote: »
    Where do you find the offerings mostly? Would you say that they are more geared towards the end of the year?
    westgolf wrote: »
    Well done on such a comphrensive spread. Did you use someone like Davy's or was it D.I.Y ?

    Most offerings typically crop up in Q4.

    My sources have been:
    Cantor Fitzgerald
    Goodbody
    McKeogh Gallagher Ryan
    there may have been one or two minor directs

    I view them as a complement to public stock market investing and to pension investments.
    Think of it as private equity with the upside being from tax relief.


  • Options
    #80
    caviardreams
    Registered Users Posts: 5,439 ✭✭✭caviardreams


    A couple still advertised in Business Post today closing 31st Dec - wildatlantichealth.com with a 28% return over 4 years (+ tax relief obviously) - higher than the typical return

    Also dairy concepts Irl still advertising


  • Options
    #81
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    caviardreams wrote: »
    A couple still advertised in Business Post today closing 31st Dec - wildatlantichealth.com with a 28% return over 4 years (+ tax relief obviously) - higher than the typical return

    Also dairy concepts Irl still advertising

    Any wind farms by any chance? Thanks


  • Advertisement
  • Options
    #82
    caviardreams
    Registered Users Posts: 5,439 ✭✭✭caviardreams


    One More Toy wrote: »
    Any wind farms by any chance? Thanks

    Not that I spotted but there isn't a section or anything, they are just adverts


  • Options
    #83
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    One More Toy wrote: »
    Any wind farms by any chance? Thanks

    I haven't seen any windfarms since 2016


  • Options
    #84
    One More Toy
    Registered Users Posts: 3,764 ✭✭✭One More Toy


    Cute Hoor wrote: »
    I haven't seen any windfarms since 2016

    Neither have I unfortunately


  • Options
    #85
    rebelle
    Registered Users Posts: 267 ✭✭rebelle


    Cute Hoor wrote: »
    I will try to give a simple example of how it works.

    You invest €10,000 in an EIIS scheme in November/December 2020 - it is important that this €10,000 is 2020 income that has been taxed at 40%.
    You do your tax returns for 2020 in January 2021 or whenever you can, and you will be allowed the first 30% tax relief - so you will get €3,000 back from Revenue.
    When you are doing your 2024 tax returns you will be allowed the additional 10% tax relief - so you will get a further €1,000 back from Revenue.

    I made a €10,000 investment in June 2020. I had been told that I would get 40% relief in 2021.

    I did my 2020 return earlier this week and it was processed really quickly. Revenue advised that I would get €3,000 so I queried the other €1,000. They have said the additional refund will be given.

    The problem seems to be one of the questions on the return is to state what 3/4 of the amount invested is, which I believe isn't relevant if your investment is in 2020.


  • Options
    #86
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    rebelle wrote: »
    I made a €10,000 investment in June 2020. I had been told that I would get 40% relief in 2021.

    I did my 2020 return earlier this week and it was processed really quickly. Revenue advised that I would get €3,000 so I queried the other €1,000. They have said the additional refund will be given.

    The problem seems to be one of the questions on the return is to state what 3/4 of the amount invested is, which I believe isn't relevant if your investment is in 2020.

    You were told wrong unfortunately, you get the first 30% tax relief in the year of investment, in your case 30% in 2020


  • Options
    #87
    sector_000
    Registered Users Posts: 419 ✭✭sector_000


    Cute Hoor wrote: »
    You were told wrong unfortunately, you get the first 30% tax relief in the year of investment, in your case 30% in 2020

    I'm not sure you're correct there. :confused:
    EIIS scheme changed around Oct 2019.... from then on all the schemes give the full 40% tax relief upfront (well, as soon as the company self-certifies).

    I suspect that rebelle entered incorrect info on the Form11.
    I did my 2019 taxes a few months back and had several different EIIS investments to report on covering:
    - 10% relief (old schemes, final relief)
    - 30% relief (old schemes, initial relief)
    - 40% relief (new schemes, full relief upfront)
    All processed 100% accurately by Revenue.

    Use ros.ie to iterate and see the effect of the various EIIS when you enter them.


  • Options
    #88
    rebelle
    Registered Users Posts: 267 ✭✭rebelle


    Cute Hoor wrote: »
    You were told wrong unfortunately, you get the first 30% tax relief in the year of investment, in your case 30% in 2020

    Happily the info is correct. Revenue have told me that I am due a further refund.

    From Revenue.ie

    You can claim tax relief on your investment when certain conditions are met. For shares issued up to and including 8 October 2019, the relief is split into two tranches:

    thirty fortieths (30/40) in the year of investment
    ten fortieths (10/40) in the fourth year after the initial investment.
    For shares issued after 8 October 2019, the relief is available in full in the year of the investment.


  • Options
    #89
    Cute Hoor
    Registered Users Posts: 1,788 ✭✭✭Cute Hoor


    rebelle wrote: »
    Happily the info is correct. Revenue have told me that I am due a further refund.

    From Revenue.ie

    You can claim tax relief on your investment when certain conditions are met. For shares issued up to and including 8 October 2019, the relief is split into two tranches:

    thirty fortieths (30/40) in the year of investment
    ten fortieths (10/40) in the fourth year after the initial investment.
    For shares issued after 8 October 2019, the relief is available in full in the year of the investment.

    Ah OK, rules have changed obviously, apologies


  • Options
    #90
    rebelle
    Registered Users Posts: 267 ✭✭rebelle


    Cute Hoor wrote: »
    Ah OK, rules have changed obviously, apologies

    No need to apologise at all, I got great info from you on this thread


  • Advertisement
  • Options
    #91
    duffysfarm
    Registered Users Posts: 846 ✭✭✭duffysfarm


    invested in the great northern distillery in 2016 and just got word back yesterday that it is maturing this month with a decent return - up on 12%. Was going to invest in one of the other distilleries before Christmas but it was bad timing for me.
    Its a good scheme overall and its a pity its not used more by companies


Advertisement