"Given the forthcoming increase in the higher rate of income tax, not to mention the reduction of pension tax relief and the restrictions on personal allowances, Venture Capital Trusts (VCTs
), with their 30 per cent income tax relief providing the shares are held for a minimum of five years, could well move up the radar for higher earners.
"The National AIDS Program worked very hard, in conjunction with NGOs, to help create these VCTs
for the Lebanese," Nakib said.
"The current relief scheme has been an unqualified success with the number of VCT
sales increasing almost seven fold in the last year, at a relative low cost for the Chancellor.
are limited companies managed by venture capital firms.
I have sent you a copy of a report detailing the current recommended VCTs
. Investors looking at sheltering tax who are prepared to accept higher risk investments may benefit from receiving information and a copy of this report.
Nixon says as the firm started to gradually improve shareholder returns, produce steady increases in shareholder value and pay higher dividends people began to recognise what it was doing and it increasingly found it easier to raise money to the point now where its VCTs
have won a number of awards including VCT
of the year.
Since the business was founded in 1996, Albion VCTs
has paid out dividends to shareholders every year, totalling over PS117 million.
provide for 30% tax relief on amounts up to pounds 200,000 a year and any dividends paid are tax-free.
But, after we launched a marketing campaign, being tested became a trendy thing to do and people were queuing outside VCTs
"As a result of this we are seeing a number of clients look more towards alternative vehicles such as venture capital trusts (VCTs
) and enterprise investment schemes (EIS).
Security company Arotech (Nasdaq GM:ARTX) said on Wednesday that its Training and Simulation Division (ATSD) has announced the exercise of USD10.6m of support options for its US Army Virtual Clearance Training Suite (VCTS
) and US Air National Guard Boom Operator Simulation System (BOSS) programmes.
, all of which were listed on the main market of the London Stock Exchange, were merged using schemes of reconstruction governed by section 110 of the Insolvency Act 1986.