News: Inter Currency Payments look for investment via tax relief scheme
Inter Currency Payments is preparing to launch a share placement using a Crowd Funding platform after the Rotherham company was approved under the government's Seed Enterprise Investment Scheme (SIES).
Established by enterprising former students of Sheffield Hallam University, Inter Currency Payments, is a foreign exchange broker and money transmitter, based in RiDO's Fusion @ Magna Business Centre in Rotherham.
The main aim of the company is to lower the costs of foreign exchange and money transmission for companies based within the Sheffield city region that are either paying above the odds to the high street banks or have not yet developed an export strategy for their firms.
Inter Currency Payments has been approved for the SEIS scheme and is currently in talks with two of the leading Crowd Funding platforms in the UK to raise approximately £55,000 in new capital to help finance its growth.
SEIS provides income tax relief of 50% for individuals who invest in shares in qualifying companies and in addition, the government will offer a capital gains tax holiday for investments made into the new scheme.
Richard O'Brien, founder of Inter Currency Payments, said: "This is a fantastic opportunity for us to raise additional capital so that we are able to grow the company rapidly over the next few years and really support our regions manufacturers and exporters. We have been discussing a share placement with two of the UK's leading Crowd Funding platforms and have also received approaches from angel investors and private individuals which we are considering.
"This share placement will allow us to raise money despite the continuing banking crisis so that we are able to invest in our services and recruit new staff. The SEIS approval is also fantastic news for new investors who can make a big tax saving through the scheme."
The enterprise is the only independent dedicated foreign exchange broker in Yorkshire and has recently received confirmation that it has been approved by both HM Revenue & Customs and the Financial Services Authority.
Inter Currency Payments website
Established by enterprising former students of Sheffield Hallam University, Inter Currency Payments, is a foreign exchange broker and money transmitter, based in RiDO's Fusion @ Magna Business Centre in Rotherham.
The main aim of the company is to lower the costs of foreign exchange and money transmission for companies based within the Sheffield city region that are either paying above the odds to the high street banks or have not yet developed an export strategy for their firms.
Inter Currency Payments has been approved for the SEIS scheme and is currently in talks with two of the leading Crowd Funding platforms in the UK to raise approximately £55,000 in new capital to help finance its growth.
SEIS provides income tax relief of 50% for individuals who invest in shares in qualifying companies and in addition, the government will offer a capital gains tax holiday for investments made into the new scheme.
Richard O'Brien, founder of Inter Currency Payments, said: "This is a fantastic opportunity for us to raise additional capital so that we are able to grow the company rapidly over the next few years and really support our regions manufacturers and exporters. We have been discussing a share placement with two of the UK's leading Crowd Funding platforms and have also received approaches from angel investors and private individuals which we are considering.
"This share placement will allow us to raise money despite the continuing banking crisis so that we are able to invest in our services and recruit new staff. The SEIS approval is also fantastic news for new investors who can make a big tax saving through the scheme."
The enterprise is the only independent dedicated foreign exchange broker in Yorkshire and has recently received confirmation that it has been approved by both HM Revenue & Customs and the Financial Services Authority.
Inter Currency Payments website
0 comments:
Post a Comment