Royal Assent of the Finance Bill has been delayed by a week to 15 March, giving investors an extended opportunity to access tax-efficient schemes including VCTs and EIS investing in low-risk businesses.
The bill, which was originally set to receive Royal Assent on 8 March, will introduce a "risk-to-capital condition" that will stop investors taking advantage of tax breaks by investing in low-risk venture capital trusts (VCTs) and enterprise investment schemes (EIS) - they will only receive tax breaks by investing in higher-risk vehicles. Alex Davies, founder of Wealth Club, a broker that specialises in tax-efficient products for HNW clients, said: "This should give any investor who wants to invest in less risky asset-backed EIS a welcome extension to do so. "I would argue that anyon...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
