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Our Services » Advanced Tax Planning
Once you have utilised pension allowances and ISA limits and have the remainder of your financial programme established, you may wish to consider more speculative investments that offer excellent tax breaks. However it's important to realise that speculative investments mean that you should only invest what you can afford to lose!
Venture Capital Trusts
Venture Capital Trusts (VCTs) may be perceived as a higher risk investment, with portfolios consisting of unquoted companies, but their risks are counterbalanced by their tax advantages. Indeed, VCTs are now firmly established as an attractive means of combining tax efficiency and investment performance.
What are their tax advantages?
The tax advantages of VCTs are numerous:
30% income tax relief on investments of up to £100,000 per tax year for subscribers if held for three years; dividends from VCTs are free of income tax; there is an exemption from capital gains tax on the disposal of VCT shares; and VCTs do not pay corporation tax on chargeable gains or distributions from UK companies.
Enterprise Investment Schemes
Investing in EIS companies attract 20% income tax relief on an investment up to £400,000 in each tax year. The gains are tax free, and the minimum holding period has recently been reduced from 5 years to 3 years (as with VCTs). These schemes, although offering generous tax relief, are speculative investments and not necessarily the first step in financial planning.
Tax Rules are subject to change. The FSA does not regulate Tax Advice. If you are interested in these services, please do not hesitate to contact us for advice.
