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Julian Gibbs

I rarely recommend an enterprise investment scheme as they are usually aimed at investors who want to gamble. However, an exception is Tomahawk Pubs plc, which will be an asset-backed, dividend-paying EIS. Tomahawk intends to purchase, operate and develop a portfolio of strategically located pubs within the M25.

The pubs will appeal to local residents and businesspeople alike. While drink sales are expected to provide the majority of turnover, the high quality food that they are going to offer, at a standard to compete with any local restaurant, will be the key to enhancing revenue and profitability.

I visited the Builders Arms in Chelsea, a pub run by Geronimo, which will be running the Tomahawk pubs. This one certainly has a great atmosphere and looks to me very profitable.

Geronimo has the distinction of having six pubs rated by Michelin. Miles Templeman, the chairman, was managing director of Whitbread Beer, as well as being on the main board. Nigel Banks, the chief executive, has 30 years&#39 experience in the acquisition, refurbishment and operation of pubs, including 10 years as operations director of Whitbread.

Unlike many other EISs, this one is likely to produce a rising dividend income. A point often forgotten is that EIS investors can go back up to three years to defer tax on previously incurred capital gains. They also get 20 per cent income tax relief so the total tax relief for those eligible is 60 per cent of their initial investment.

It closes fairly shortly so those who wish to invest should contact Richard Eliott-Lockhart of Kreis Consulting on 0141 564 1523. This is the one EIS I have come across which I can recommend, even to risk-adverse investors.


Scottish Mutual – Income and Growth Plan 3

Thursday, May 16, 2002 Type: Guaranteed equity bond Aim: Income or growth linked to the performance of the Dow Jones Eurostoxx 50 index Minimum&#45maximum investment: £7,000-£500,000 Term: Five years two months Guarantee: Capital returned in full at end of term provided the index does not fall by more than 20% Return: Choice of 8% gross […]

Regulate buy-to-let to plug protection gap

Buy-to-let should be regulated. That is the view of the majority of mortgage intermediaries and many lenders.We suspect it is the view of the FSA following an expression of concern about the market by director of high-street firms Sarah Wilson. The failure to regulate leaves a dangerous gap in consumer protection. Many buyers-to-let are not […]

Western Provident Association – Flexible Health

Monday, May 13, 2002Type: Individual private medical insuranceMinimum-maximum ages: From birth-65Maximum benefit: No maximumCover provided: Standard cover – inpatient, daypatient and outpatientcover for cancer care. Inpatient and daypatient cover for hospitaltreatment, specialists fees, diagnostic scans and tests. Inpatientcover for prostheses. Outpatient cover for consultations with aconsultant/specialist up to £100 a year, MRI and CT scans, […]

Abbey National – Safety Plus Growth 7

Tuesday, May 14, 2002Type: Guaranteed equity bondAim: Growth linked to the FTSE 100 indexMinimum-maximum investment: £3,000-£500,000, Isa£1,000-£7,000Term: Five yearsGuarantee: Capital returned in full along with 20% growth at end oftermReturn: Capital along with up to 50% growthClosing date: July 8, 2002 Commission: NoneTel: 0800 302030


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