Greencoat renewables

[assa99]

Question here about Greencoat Renewables (GRP.IR). It is very unclear whether this is deemed to be 'shares' (CGT on gain and income tax on dividends) or is 'fund'/'trust' (41% tax and deemed disposal). Stockbroker could not/would not advise. Any thoughts? Anyone out there holding them and what have you found out/done. Thanks

 

[assa99]

Bumping this thread as there were no replies. I'm sure someone else out there owns these shares?? Thanks

 

[Corola]

Since it is structured as a PLC company rather than a fund, I imagine this would be taxed like shares. So CGT and income tax.

 

[assa99]

Since it is structured as a PLC company rather than a fund, I imagine this would be taxed like shares. So CGT and income tax.

And yet the holdings webpages and custody statements from the stockbroker list it as "Fund" whereas other shares are listed as "equity" and cash holdings show as "cash"
And the "admission document" for the Irish stock exchange in 2017 lists it as an "Alternative Investment Fund" See link - remove spaces between https then : then // then www then . before the rest (won't let me post a link): https : // www . greencoat-renewables.com/~/media/Files/G/Greencoat-Renewables/documents/reports-publications/2017/greencoat-renewables-plc-admission-document.pdf

 

[Corola]

I see no difference between this and a UK Investment Trust. They resemble funds but trade as companies.

 

[Sarenco]

Greencoat definitely falls under the normal income tax/CGT regime.

Confusingly it is an “AIF” (alternative investment fund) for regulatory purposes. But so are IRES and the various UK investment trusts.

Critically, Greencoat is not an collective investment scheme authorised by the Central Bank (or a comparable national authority) and is not subject to the gross roll up/exit tax regime.

 

[assa99]

Thank you both. It is very confusing. I've spent a long time going round in circles on this. Sorry for the late reply - for some reason I keep getting long delays on being able to post.