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English Country Inns dines in EIS style

English Country Inns, an enterprise investment scheme (EIS) that builds restaurant-style country pubs in the south of England, is offering another share subscription.

The EIS has already raised £6m under previous offers and has acquired six public houses at the cost of £3,961, 975. It is looking for further funds to buy more outlets and aims to produce capital growth for investors. Only established businesses which have a good trading record will be considered, which may minimise the risk of buying an unprofitable public house.

Public houses were chosen because the freeholds are qualifying buildings under EIS rules. These types of properties are available quite cheaply south of the M4, in areas such as Surrey, West Sussex and Somerset, which do not have the same choice of pubs and restaurants as cities.

High-net-worth clients who may have a capital gains tax (CGT) problem could find this product attractive as investing in an EIS allows CGT deferral of up to 40 per cent. It might also attract speculative, high-risk investors who are looking to add something different to their portfolios. However, the EIS depends on finding suitable public houses within the chosen area and their profitability as businesses, which is not guaranteed.


Newton fund manager in car crash

Newton Income fund manager Robert Shelton was seriously ill in hospital this week, following a car crash on Friday. In a statement issued on Tuesday, Newton said: “We are all hoping that Robert makes a full and speedy recovery and obviously our thoughts are with him and his family at this time.”

Corporate bonds outperforming equities

UK corporate bonds outperformed equities by almost 20 per cent in 2001, according to the latest Barclays Capital equity-gilt study.Corporate bonds returned an average of 6 per cent for the last calendar year compared with average equity returns of -13.8 per cent, gilt returns of 0.6 per cent and cash returns of 4.8 per cent.However, […]

Planning stage

Simon Shaffer recently took me to task for abrogating responsibility for inheritance tax planning as “not our job”.I would like to say, with equal conviction, that he is quite right. I shall not hide behind the old cry that I was misquoted. I failed to get my point over in such a way that a […]

Close Brothers Investment – West End Films

Tuesday, February 26, 2002Type: Enterprise investment schemeAim: Growth by investing in the financing of televisionprogrammesMinimum investment: Lump sum £2,000Opening/closing date: February 18, 2002/April 4, 2002 for 2001/2002tax year, May 27, 2002 for 2002/2003 tax yearCharges: Initial 5.95%, annual 1.9%Commission: Initial 2.5%Tel: 0800 9177107


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