Close is offering an Aim VCT aiming to get round liquidity issues and the lack of a secondary market by offering a range of exit strategiesThe Close IHT Aim VCT launches on October 3 with two asset share classes. The A-share class, effectively a standard VCT, offers 40 per cent income tax relief on investments from 5,000 to 200,000 and regular tax-free dividends to shareholders. Investors in the B-share class, which has a minimum investment of 50,000, can three years convert the shares after three years into A shares or can take the underlying stocks held in the VCT into their own portfolio through an in specie transfer. If held for a further two years, the value of these investments can be passed on IHT-free.A discount management strategy with Close buyback shares to maintain a maximum 8 per cent to NAV discount provides liquidity for A shares. Close Venture Management director Andrew Buchanan will manage the fund.
Matrix Money Management
Income & Growth VCT
Old Mutual says it will launch a hostile takeover bid for Skandia Life.
This is the sixth e-commerce supplement produced by Money Marketing in association with the Financial Technology Research Centre and we believe it is beginning to demonstrate some very important results. This month’s ratings feature e-commerce excellence ratings in retirement income products. To date, we have awar-ded 37 triple e ratings, 32 double ratings and 54 […]
Safety Plus Growth Issue 23
Jelf Employee Benefits has launched Jelf AEase, an enhanced auto-enrolment (AE) service aimed at companies with fewer than 50 employees that are due to stage from August 2015.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]