{"id":19826,"date":"2019-11-20T12:45:31","date_gmt":"2019-11-20T12:45:31","guid":{"rendered":"https:\/\/smh.group\/?p=19826"},"modified":"2023-02-15T13:19:51","modified_gmt":"2023-02-15T13:19:51","slug":"starting-early-for-tax-year-end-investments","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/starting-early-for-tax-year-end-investments\/","title":{"rendered":"Starting early for tax year end investments"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Venture Capital Trusts have started their\nfundraising for 2019\/20.&nbsp; <\/strong><\/h2>\n\n\n\n<p>There was a time\nwhen tax year end planning didn\u2019t begin until well after the New Year\nfestivities were over and a March Budget was nearing. This rhythm has now\nshifted. The last months of the tax year are still important, as they are the\npoint at which you should have a reasonable idea of your total income in the\nyear. But Philip Hammond\u2019s move to an Autumn Budget from 2017 means that there\nis now more focus around this time of year, rather than post-Christmas.\nAlthough 2019 has become an aberrant year in many ways, including the\npostponement of Chancellor Sajid Javid\u2019s planned Budget in November, business\nas usual on year end planning continues.<\/p>\n\n\n\n<p>The seasonal switch is particularly noticeable in terms of <strong><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/financial-services\/investment-options\/tax-reducing-investments\/\">Venture Capital Trust<\/a><\/strong> (VCT) offerings. VCTs allow you to invest in a basket of small, unquoted companies with the aim of helping them grow and develop. The high-risk nature of fledgling companies means VCTs come with significant incentives and have grown in popularity in recent years. In 2018\/19 the highest amount ever was raised at the current level of tax relief.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>There are three main reasons for the increased interest:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong><em>Tax reliefs <\/em><\/strong>VCTs offer 30% up-front income tax relief, tax-free dividends and freedom from capital gains tax.<\/li><li><strong><em>Pension allowances<\/em><\/strong> Although the lifetime allowance is now index linked, it and the unchanged rules on the annual allowance act as increasing constraints on <strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/financial-services\/retirement-solutions\/\">pension contributions<\/a><\/span><\/strong>. The highest earners cannot now contribute more than \u00a310,000 a year to their pension with full tax relief.<\/li><li><strong><em>Aversion to avoidance<\/em><\/strong> HMRC\u2019s anti-avoidance armoury has been much strengthened in recent years, witness the problems faced by some tax-avoiding celebrities. The public attitude has also moved to the point that being associated with aggressive tax avoidance is bad PR.<\/li><\/ul>\n\n\n\n<p>There was an initial\nautumnal rush for VCTs in 2017 at the first of the current crop of Autumn\nBudgets, ahead of widely anticipated reform of the VCT rules. This year many\nVCTs have already started their fund-raising for 2019\/20 or announced the\nintention to do so shortly. Some of this may have been in anticipation of the\n2019 Budget, although there were no significant changes expected. The spectre\nof an imminent general election, now confirmed for 12 December, may also have\nencouraged an early start.<\/p>\n\n\n\n<p>If you are considering VCT investment in this tax year, please do not wait until February. By then you may not have very much choice left. <\/p>\n\n\n\n<p>To discuss your <strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/financial-services\/investment-options\/\">personal investment strategies<\/a><\/span><\/strong> with one of our <strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/financial-services\/\">Chartered Financial Planners<\/a><\/span><\/strong> drop us a line on <strong>0114 266 4432<\/strong> or email <span style=\"text-decoration: underline;\"><strong><a href=\"mailto:info@smhca.co.uk\">info@smhca.co.uk<\/a><\/strong><\/span><\/p>\n\n\n\n<h6 class=\"wp-block-heading\"><em>Venture Capital Trusts (VCTs) invest in assets that are\nhigh risk and can be difficult to sell. <\/em><\/h6>\n\n\n\n<h6 class=\"wp-block-heading\"><em>The value of tax\nreliefs depends on your individual circumstances. Tax laws can change. The\nFinancial Conduct Authority does not regulate tax or trust advice.<\/em><em> <\/em><em>The value of your investment can go down as well as up and you may not\nget back the full amount you invested. Past performance is not a reliable\nindicator of future performance.<\/em><em> <\/em><em>Investing in\nshares should be regarded as a long-term investment and should fit in with your\noverall attitude to risk and financial circumstances. <\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Venture Capital Trusts have started their fundraising for 2019\/20.  <\/p>\n","protected":false},"author":4,"featured_media":16718,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[180,418,97,393,417,74,416,223,222],"class_list":["post-19826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-budget","tag-investment-strategy","tag-investments","tag-pension-allowance","tag-personal-investment","tag-tax-relief","tag-tax-year-end","tag-vct","tag-venture-capital-trusts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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