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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5141
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I own £5k of VER carbon credits, Shield capital Ltd want a fee to do a " corpoarate

I own £5k of VER... Show More
I own £5k of VER carbon credits,
Shield capital Ltd want a fee to do a " corpoarate rediversion" ? and arrange their sale. They have sent a "guarantee" of sale and insured by Zurich.
does this make any sense?
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Ask Your Own Tax Question
Hello and welcome to the site. Thank you for your question.

There is scam in carbon credits and small investors are warned to avoid scam involving carbon credits.

Shield Capital Ltd , a company based in County Londonderry was dissolved on 2 Jan 2015.

I would like you to read this article here

In my considered view, you should not throw away good money unless you are 150% certain of postive result.

I'm sorry if this is not what you were expecting as an answer.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Please only rate my answer if it is acceptable.

Customer reply replied 2 years ago.

if the company who are sending me letters and guarantees on headed notepaper is dissolved, does this mean that it does not exist as a proper company? and therefore their statements are worthless?

Keith, thank you for your reply...

If the company that is sending you letters and guarantees is showing Company number NI070675 and registered office as***** Coleraine, County Londonderry BT52 1SQ then this company was dissolved on 2 Jan 2015.

If the above is true then the statements are worthless.

I would take caution. I would recommend you write to the company at the address and see if you get a meaningful reply.

I hope this is helpful.
Customer reply replied 2 years ago.

company no. quoted is 07251 169

Keith, thank you for your reply.

The company number you have quoted is for Shiedl 1 Limited, a company based in Oxford. It has listed its activities as Activities of a head offices (does not reveal a lot).

As a professional accountant in practise, I would wish you to evaluate the net result - the cost of conversion plus your initial investment vs the guaranteed return. Unless you are fully satified that your are not throwing any more of your hard earned money into something that may prove to be a scam, I would cut my losses.

There is little helpful information on these corporate re-diversions.

I hope this is helpful.