What is the maximum I can invest?
There is no maximum. However the current maximum amount available for EIS Income Tax Relief is £1,000,000.
How do I follow the progress of my Investment?
A statement and investment update report will be sent to you every six months. In addition where requested, we will notify you as each individual investment completes on your behalf. The Seneca EIS Team will always be happy to deal with any enquiries.
Can I withdraw money from the Seneca EIS Portfolio Service?
You may give notice to withdraw money at any time by writing to us at 12 The Parks, Haydock, WA12 0JQ or calling us on 01942 271 746. However, investments in unquoted companies are often illiquid and the timing of any sale cannot be predicted. As such, you should be prepared to retain these investments until an appropriate exit is achieved. Additionally if any investments are exited before the Three Year Period you will be exposed to potential tax consequences such as the repayment of any EIS Income Tax Relief, any CGT Deferral and CGT on any gain you make on the realisation of investments. You should consider seeking independent financial advice before an early exit.
What is the minimum I can invest?
The minimum investment is £25,000. Once you are an Investor, additional minimum contributions of £5,000 can be made at any time.
How are capital gains treated?
Any EIS gains on investments held for the minimum 3 Year Period are not subject to CGT for Qualifying Investors provided that a claim for EIS Income Tax Relief is made. Also, you can elect to defer capital gains you realise on other assets disposed of within the period running from 3 years before your investment to 12 months afterwards.
How do I apply?
After you have read this document please read the Investment Management Agreement and complete the Application Form. You may invest by cheque or via bank transfer. Your Application Form (and cheque) should be sent directly to The EIS Team, Seneca Partners Ltd, 12 The Parks, Haydock, WA12 0JQ.
What should I expect after I invest?
- Welcome pack confirming completion of investment formalities.
- Notification as each individual investment completes on your behalf.
- Half yearly statement and investment update report as at 30th September and 31st March.
- More regular information may be provided upon request.