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EIS boosts country pubs

English Country Inns is an enterprise investment scheme (EIS) sponsored by Close Brothers Investment. It aims to raise money to build restaurant-style country pubs in England.

Public houses were chosen because the freeholds are qualifying buildings under EIS rules and these types of properties are available quite cheaply outside London. There is also a ready market for them as business people and the retired are always looking for places to eat and drink outside the capital. The pubs will have a family atmosphere and will target families at weekends.

Enterprise investment schemes allow investors to claim a tax credit of up to 20 per cent if shares are held for at least three years. Capital gains tax deferral of up to 40 per cent is another advantage.

High net worth clients who may have a capital gains tax problem could find this product attractive. It might also suit a shrewd investor looking for something speculative to invest in. However, it is unlikely to hold much interest for less sophisticated investors as they may be put off or confused by the concept, resulting in a reluctance to invest.


Legal & General – Global Technology Index Trust

Wednesday, 15th November 2000.Type: Unit trust.Aim: Growth by tracking the technology section of the FTSE world index.Minimum investment: Isa lump sum £500, monthly £30. Direct lump sum £1,000.Investment split: 100 per cent tracking technology section of the FTSE world index.Isa link: Yes.Pep transfers: No.Charges: Annual no charge until April 6, 2001, then 1 per cent.Special […]

Way to build up net gains

The e-commerce revolution is reaching financial services and making a big impact.Consumers can search for and compare financial products online. Insurance prov iders and IFA service providers are building their online business offerings.The internet is enabling the customer to access higher-quality information and is requiring IFAs and product providers to think hard about how best […]

Virgin sets target for IFA business

Virgin One is starting a nationwide recruitment drive with ambitious plans to generate up to half of its business thr ough intermediaries.The company is seeking key staff to lead its push into the independent adviser market, including a head of intermediary sales, regional business development managers and call centre sales-support staff.The move is part of […]

Halifax division offers specialist lending

Halifax division Birmingham Midshires is this week branching out into specialist lending by launching mortgages aimed at the buy-to-let, self-certification and expatriate markets. Midshires is moving towards becoming Halifax&#39s specialist lending arm by offering products and services unavailable elsewhere within the group. It will continue to offer mainstream mortgages but expects specialist lending to account […]


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