Thank you for your support, Our offer has been accepted and formal negotiations are underway to buy The White Lion for the Community
We are now proceeding with the purchase of The White Lion subject to contract. Thank you for your wonderful support.
To date we have raised an incredible £205,000 from the local community and have received £120,000 in grant and loan funding which means we are able to buy The White Lion. BUT we still need £20,000 to provide working capital to meet initial running costs. This could be met by loans that have to be paid back but we would prefer to raise the money by share sales or donations.
We are delighted to announce to all share buyers that HMRC have sent a letter confirming advance assurance for the SITR tax relief scheme.
If you are in a position to buy a share or to increase the investment you have already made please:-
Email: [email protected]
Telephone 01948 667903
or fill in and return a shares application form. These can be collected from the bar at The White Lion or downloaded from this website.
Share Purchase Tax Relief
As you know we have now received advanced assurance from HMRC that the investors in the White Lion Community Pub Limited (the Community Benefit Society) will be able to qualify for Social Investment Tax Relief. To get this relief we will issue compliance certificates to investors. You can then make a claim in your tax return to HMRC, alternatively, if you do not file tax returns and pay tax via PAYE you will need to write to HMRC to request a refund or change your tax code to account for your reduced tax liability.
There will be a number of requirements that investors will need to meet e.g. you must pay tax to the level being claimed. There are also a number of exemptions that may apply to a small number of investors too.
Having SITR Advance Assurance from HMRC is a great boost for our campaign to Save the White Lion and we hope will encourage investors to consider if they can increase their shares purchase or to make a small donation.
More information can be found at https://www.gov.uk/guidance/venture-capital-schemes-tax-relief-for-investors If you have any specific questions then please email us at [email protected] and we will try to answer your query. Where the question and answer is of interest to a wider audience we will post this on the website and include in future communications
The following are the main areas where SITR applies.
Income Tax Relief
your personal tax bill can be reduced by 30% of your investment i.e. you are entitled to income tax relief amounting to 30% of the value of shares you purchase in the pub. You can have this tax relief either in the year of your investment or the previous tax year. (subject to you owning the shares for at least 3 years)
Capital Gains Tax (CGT) Deferral
you could potentially pay £nil capital gains tax i.e. you can defer your capital gains tax by investing the gain in the purchase of shares in the pub or loaning it money. The capital gains tax only becomes payable when you redeem your social investment (which is potentially never). To get the relief the initial investment in the pub shares must occur no more than 3 years after (the disposal liable to CGT) or one year before.
Income tax relief if you loan money to the White Lion Ash Community Pub Limited
if you loan the pub money you can deduct 30% of the value of the loan from your personal tax liability. This is subject to the loan not being secured against any assets and not being repaid within the first 3 years. Interest on the loan mustn't be in excess of the commercial rate of interest.
Capital gains tax exemption
providing you got income tax relief when you first bought shares in the pub, the disposal of the shares (if ever) is exempt from Capital Gains Tax.
We hope the above is of help..
We are aiming to raise £370,000 to purchase and refurbish The White Lion as a community-owned enterprise, with a minimum amount of £220,000 to be raised by shares. A maximum target to be raised by shares of £300,000 would enable us to undertake a greater degree of refurbishment and create some working capital.
If wish to purchase shares.
Don't worry you can still buy Shares by downloading " the Share Purchase Application form" from this website or if prefered Telephone 01948 667903 for one to be sent out to you
If wish to make a donation or have a fund raising idea.
All donations whatever there size and fund raising ideas are extremely welcome, please telephone 01948 667903 or Email
Help save the White Lion and make it roar again
"Help us save the White Lion and make it roar again!
The current owners would like to retire and, in September 2017, expressed their intention to close the doors on 31st December 2017.
The White Lion has been a public house for over 250 years and is one of the last remaining traditional freehouses in this part of the UK. It provides a central hub for the village and supports local clubs and activities. Regular events take place at the village hall, bowling club, tennis courts and on the playing fields.
The residents of Ash and surrounding areas do not want to loose their village pub and are working tirelessly keep it alive. As an attempt to save the pub the community is offering people a chance to purchase their own slice of it by transforming it in to a community pub and 'much more'.
Other than the White Lion remaining a traditional pub, suggestions for the future have been; morning/afternoon coffee and cakes, parcel and prescription drop off and pick up point but more importantly a pub that is inviting for all age groups and families. We are looking for supporters whether this is a donation, purchasing shares or offering time to assist with re-vamping the pub should we be successful. If you are interested in helping us save one of Shropshire's hidden treasures please get in touch."..
We need to raise £370,000 - This is not impossible:- we are over two thirds there already!
Community consultation has demonstrated overwhelming support to ‘save The White Lion and keep it open. We need to raise £370,000 to cover the purchase of the pub, all fees, refurbishment and the funds needed to start operating..
Funds are being raised with the help of the Plunkett Foundation in the form of a grant and loan, while members of the community are making donations and pledges to buy shares.