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Portfolio service has Aim of minimising IHT bills

Close Fund Management is relaunching its portfolio management service which invests in the Alternative Investment Market to minimise inheritance tax liabilities.

The Accelerated Taper Service allows investment of at least £50,000 in the Aim market. The management team will invest directly in companies listed on the Aim or traded on Ofex as well as new issues.

Such investments are not subject to IHT if held for two years. If they are held for four years, they are subject to only 10 per cent capital gains tax upon sale. Initial charge is 5 per cent and annual 1.75 per cent. Initial commission is 3 per cent and renewal commission is available.

Managing director Marc Gordon says: “The tax benefits that investments in Aim and Ofex attract have been an open secret in the City for the last year. Inheritance tax is becoming a much greater issue in British life and this service provides opportunities for an investor to minimise their IHT liabilities while retaining control of and access to their investment.”

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