Campaigners trying to save their historic local pub from closure are offering people the chance to own a stake in the building.
Community members of Littlehempston in the South Hams are being encouraged to buy shares in the Tally Ho pub – dating back to the 14th century – in an effort to save the establishment.
The Grade II-listed building closed its doors 19 months ago before members of the community began gathering funds towards the £350,000 needed to purchase the building. "We are desperate to keep the pub open," said resident Bee West.
"If the pub stops being a pub, we fear it'll never return."
The campaign has received the backing of local MP Dr Sarah Wollaston who wrote a letter of support.
She said: "I was delighted to hear about the campaign to rescue the wonderful Tally Ho Inn. Pubs are at the heart of our local communities and I wish the best of luck to all those who are working to bring back this historic pub."
Members of the public are being invited to purchase £1,000 shares in the building that played a central role in the village for 350 years.
Supporters have received confirmation from HMRC that their share issue will qualify for the Enterprise Investment Scheme.
It means purchasers should be able to claim back 30% of their investment as an income tax rebate, if they plan to hold the shares for at least three years.
Littlehempston Community Pub chairman Mike Thomas said: "We were always confident that we would qualify for the EIS, but it's great to have it confirmed in writing."
People have until June 15 to buy shares in the building with £76,000 gathered so far.
Ms West added: "Village life is all about celebrating the lives of individuals.
"We would love the pub to reopen and have the community celebrating its people again."
For more information visit www.tallyhoinn.co.uk
