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.
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