Operation of Seed Co.

Seed Co. is part of the Landfill Tax Credit Scheme (LTCS) process which came into operation in October 1996, as part of the Landfill Tax Regulations, 1996, under the Finance Act. The scheme enables Landfill Operators who make a contribution to a registered Environmental Body to received a tax credit for 90% of their donation, subject an overall ceiling of 7% of their total tax liability. Due to the nature of the 90% rebate, Landfill Operators who wish to make use of the LTCS face a financial penalty of 10% on the funds donated.

A number of third parties have expressed an interest in funding this cost to the Landfill Operator. Seed Co. provides the function of channelling these funds on behalf of the third party, the registered Environmental Body, and the project to the Landfill Company.

Although all projects approved under the LTCS are not charitable, Seed Co. will support only those approved projects which are also charitable (this aspect of Seed Co. is under review).

Seed Co. works alongside registered Environmental Bodies, most notably South West England Environmental Trust ("SWEET"), to benefit the environment in accordance with its (Seed Co.’s) stated objects. By reimbursing Landfill Operators who are reluctant to use the scheme because of this financial liability, Seed Co. will unlock more funding under the LTCS for spending on environmental projects for charitable purposes.

Relationship with SWEET

SWEET functions as the company secretary of Seed Co. The company is has two directors: from the community. One is an environmental consultant based in Exeter and the other is a university teacher at Bristol University.  The Board meet twice a year.

SWEET and Seed Co. are both companies limited by guarantee.

SWEET Background

SWEET was founded in 1996; it provides a independent service to, and works with, both Landfill Operators, Local Authorities and projects.