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Community investment among tax incentives

Plans for a new community investment vehicle likely to be sold by advisers were announced in the Budget to encourage investment into Britain&#39s most deprived areas.

There will also be a range of enhancements to venture capital trusts and enterprise investment schemes as well as an extension of the film tax relief scheme.

The new CIV is one of a number of possible tax incentive schemes in the Treasury&#39s Enterprising Communities project announced in the Budget and is likely to be distributed to private investors through IFAs.

The product is subject to consultation but could be similar to an enterprise zone trust which invests in property in rundown areas.

It is also likely to have a minimum holding period of five years.

EIS and VCT regulations were also relaxed to encourage more investment companies to adopt the sch- emes. EIS managers will see a reduction in the amount of money which they have to invest within the first 12 months while a similar reduction will apply to the amount that VCT managers have to invest in qualifying companies in the first three years.

Enterprise investment scheme companies will be permitted to float before three years without investors losing tax reliefs. This may encourage more firms to become involved in EIS.

Venture Capital Association chairman David Thorp says: “This is all helpful tinkering. It means people are still talking about these schemes and trying to make them more accessible.”


Blair and Hague in clash over pension fund raid

Tony Blair and William Hague locked horns before the Budget over Labour taxation of dividends in pension funds. In a stormy clash in the Commons during Prime Minister&#39s Question Time, Hague attacked the Government for slashing the adv-ance corporation tax dividend relief on pension funds in 1997, a move that is worth around £5bn a […]

Sagitta Asset Management – Sagitta Healthcare Fund

Thursday, 8th March 2001.Type: Ucits.Aim: Growth by investing in healthcare companies.Minimum investment: $50,000.Place of registration: Dublin.Isa link: No.Charges: Annual 1.25 per cent.Commission: None.Tel: 020 7543 1514. 

Life policyholder taxation

7. LIFE POLICYHOLDER TAXATIONLegislation will be included in Finance Bill 2001 to clarify and simplify the tax treatment of transfers of shares in life insurance products. New measures will also be introduced to require insurance companies to give details of life policy gains to their policyholders. The new rules on transfers will have effect for […]

Chancellor signals &#39Son of Myners&#39

Chancellor Gordon Brown accepted the recommendations of the Myners report into the relationship between fund managers and securities firms, which itself recommends a further review of personal investment products.The Myners review, published yesterday, says: “the Government should initiate a separate independent review of capital and information flows around personal investment.”

The changing world of professional connections

The Legal Services Act of 2007, which opened up the legal market to competition, has put the cat among the professional pigeons. In the words of a 2015 Law Society report on what the legal profession is likely to look like in five years’ time: “Business as usual is not an option for many, if […]


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