Useful schemes for tax mitigation
We have been active in sourcing VCT and EIS schemes for our high net worth clients for over 20 years. These schemes have useful attributes, for example, VCTs currently attract 30% income tax relief on contributions into them (subject to restrictions). This could be seen as a useful alternative to retirement planning (alongside pensions).
However, the regulations surrounding both VCT and EIS get changed by the government regularly. Very recently this has meant stricter rules around the investments used within the schemes, resulting in less appetite from providers raising capital through them, and ultimately less choice for clients.
We have relationships with many providers of these schemes, and the experience to review the whole market, but we can also provide our own independent view of the investment characteristics, which will help set realistic return profile expectations for clients.