The Big Lemon has received confirmation of eligibility for Social Investment Tax Relief (SITR) from HMRC, offering investors in the company income tax relief and other benefits. This represents a huge boost to The Big Lemon’s ability to raise money for investment in electric buses, and offers investors an incredible 30% return on their investment in the first year.
Anna Fisher, The Big Lemon’s Finance & Sustainability Manager said
The Big Lemon is on a mission to bring zero-emissions, zero carbon buses to Brighton & Hove. Earlier this year we raised £250,000 for investment in electric buses and we’ve spent the last few months working with suppliers to optimise the performance and battery life of the new buses.
We have also recently completed a deal with our landlord to take over the lease on our depot which will enable us to generate renewable energy on-site that we can then use to charge the buses. Watch this space!
SITR offers investors in social enterprises such as The Big Lemon tax incentives on shares and bonds held for a minimum of three years. Investors can benefit from Income Tax relief, Capital Gains Tax exemption, Loss relief and Capital Gains Tax deferral relief. Further information on SITR is available on the Government website.
For more info and to apply for shares in The Big Lemon please see our investment page: www.thebiglemon.com/electric