Northern Ventures Managers (NVM) has published a new edition of its VCT tax guide just after announc...
Northern Ventures Managers (NVM) has published a new edition of its VCT tax guide just after announcing a £25m share issue by Northern 2 VCT, which is due to close on 5 April.
According to Alastair Conn, managing director of NVM, the UK tax payer routinely misses out on billions of pounds in unclaimed tax allowances. However, VCTs are building up a strong following among private investors. In the 1999/2000 tax year some £250m was raised and it looks as if this year's total will exceed £400m. Conn said: "Our tax guide has been designed to help investors understand the tax breaks available and the advantages of investing in VCTs.
"VCTs can be used to shelter capital gains against tax, and with the addition of up-front income tax relief at 20% the net cash cost of investing in a VCT can be reduced to as little as 40% of the gross investment."
Copies of the VCT tax guide can be obtained by calling 0800 085 2601 or by visiting www.nvm.co.uk.
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