Minexias online mining investment platform NR Private Market has received advance assurance from HMRC that it will get Enterprise Investment Scheme (EIS) tax relief.
The EIS scheme allows small companies to raise up £5mln a year and £12mln in their lifetime with tax reliefs to investors as well as sheltering them from capital gains tax.
NR exists to give sophisticated and high net worth investors access to early-stage mining deals.
In an update on Wednesday, NR said that the move will reduce investors financial exposure to the company, saying that “investors will potentially be eligible to receive up to £6,000 from HMRC in the form of tax relief” on a £20,000 investment, depending on individual circumstance.
“Investors are sheltered from paying capital gains tax on any future returns and they could also be protected from losses, with up to £6,300 of loss relief,” the company added.
The parent company of NR Private Market, Minexia, is a specialist advisory business run by a team of highly experienced mining industry professionals, including Bellingham, Tim Livesey, the chief executive of Oriole Resources, Drew Craig, an exploration and development specialist, and risk management specialist James Bellamy.
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