Frequently Asked Questions

How will I receive the tax rebate?
Our accountant will liaise with HMRC after submitting the 50% tax relief claim forms. Rebates will be distributed to all investors four months after the purchase of the new pitch.

How long will I have to commit my money?
A formal agreement will be signed, allowing the project committee 36 months (3 years) to refinance and repay your loan. We will seek grants from the Football Association of Wales to develop the site into a modern football facility. We will also apply for grants to improve the building and community services.

What additional security will I have for putting in a larger loan?
Lenders contributing £10,000 or more will have the option of a legal charge (secured loan) over the pitch. You would be repaid as a secured creditor.

How will you provide a possible dividend in addition to the 50% tax rebate?
We will generate income by: Renting out the new pitch to other organisations. Profits from the community pub (Crymych Arms) will support a backup fund to pay dividends and allow early repayments to some investors.

How does the 50% Enterprise Investment Scheme (SEIS) work?
Full details are available on HMRC’s website by searching for SEIS. Once the new pitch is operational, we will apply for SEIS status on the investment and provide each lender with an SEIS3 form to claim 50% of your investment back. You must be a UK taxpayer. Your local accountant can advise further on this scheme.

What if I require my loan funding out before the 36 months minimum term?
You can give 3 months’ notice if you need early repayment. Dividends will be calculated up to the repayment date. However, you must notify HMRC, and there is a possibility you may need to repay the 50% tax relief.

Where do I send the loan funds to, so that we all can ensure the community football club can develop the field as a football pitch and have as many people enjoying this new community asset?
You can send a bank transfer to:
Account Name CPD Crymych : Sort Code 30-90-90 : Account Number 51189268

I cannot afford the £1,000 but how can I donate to help with the costs of the campaign?
There is a GoFundMe site that will help support the initial costs of the community campaign – please visit www.gofundme.com and search CPD Crymych.