Today we passed the £150,000 mark which is great news. With this comes the news that the SEIS allocation is full and that all new investment from now on will qualify for EIS. The EIS is a good scheme and makes Green Energy Mull and Garmony Hydro well worth investing in.
To comply with the SEIS rules we have to spend 70% of the £150,000 investment, £105,000 before we can process EIS qualifying investments. This all sounds a bit complicated but what it effectively means from an investment point of view is that BACS payments are currently suspended and any cheques we receive will not be banked until we have spent the £105,000. There are plenty of places that we can spend this money e.g. the turbine so I expect this inconvenience to be a relatively short one. Please do not let this put you off investing!!
If I’ve confused you, or you would like a better explanation, please let me know