When the Canaries Bond was introduced to help raise money for the upgrading of the Club’s Academy facilities the Trust became aware that there were a number of fans who wanted to be involved in the Bond but were either unable or unwilling to invest the minimum stake of £500.
The Trust’s response was to negotiate with the Club to offer a joint Bond solution which was then made available to fans (regardless of whether or not they were Trust members) to get involved by amalgamating their investments with others, subject to a minimum of £100, into Bonds held in the name of the Trust which took responsibility for paying interest proportionately as it became due.
The tax position for these smaller investors is identical to those holding a Bond directly, with 20% tax deducted at source and the individual responsible for reclaiming tax if a non tax payer or declaring and paying the extra tax if a higher rate taxpayer.
Legal agreements have been set out between each individual investor and the Trust to set out and protect the interests of each party and it has been agreed that rather than try to divide the 3% Club credits available in addition to interest this will be monetarised and contributed to the Build The Nest campaign.
As a result the investors will not only be contributing to the improvement works at Colney in order to help make City’s Academy first class but also helping to build a state of the art community sports facility at Horsford, details of which can be found at: