Community Pub's Final Tax Relief Countdown for Wednesday the 5th April.

Crymych Arms Community Pub purchase raises £58,400 in first open day event!

The community volunteers arranging the purchase of the Crymych Arms as a community pub are celebrating a successful and busy first open day for promoting the purchase held last Saturday the first of April.

A total of £58,400 was deposited with the community venture on the first day of the official launch of the community share offer.

There is now a very tight deadline of Wednesday the 5th of April for people wishing to have their names recorded for the 30% tax incentive known as Social Investment Tax Relief which will end on the 6th of April 2023.

A supporter of many community pub purchases, Cris Tomos of PLANED the community development charity in Narberth explained. "It is a very short window of opportunity for the Tafarn Crymych Arms Project which is being spearheaded by Crymych Football Club.

The club was registered as a cooperative community benefit society with the FCA a week ago and now can offer a chance for people to register for the 30% tax relief."

Cris added specialist advice that we have received is that all interested in the tax relief need to deposit their investment of shares in the club's bank account by Wednesday the 5th of April.

They will then be discussing with HMRC about the process but people need to read the prospectus on the web page www.cpdcrymych.cymru to fully contemplate the offer"

The community target for purchasing the Crymych Arms is £275,000 and with this first weekend of opening the press release they have raised 21% of the target. The full share offer will run for 2 months from the first of April and it is hoped that by June the community group will have raised enough money to buy the Crymych Arms and reopen it for the community to have a local traditional pub.

03 Apr 2023