Tax efficient investing in a high tax economy

27 July, 2023LIBF Webinar
Host: Rich Cooper, Business Development Manager, LIBF

Guests: Will Clark, Business Development Manager, Guinness Ventures and Julie Greenwood, Key Partnerships Manager, Octopus Investments

The Office of National Statistics recently announced that HMRC provisionally collected £786.6 billion in taxes in 2022 to 2023, an increase of 9.9% from the previous year. Including IHT receipts for April 2022 to March 2023 of £7.1bn, £1bn higher than the previous tax year.

With the return of high inflation, set against a backdrop of frozen tax allowances, many clients are experiencing higher tax bills and are looking at tax efficient investments.

This webinar looks at some of the ways you could help clients diversify and support their tax planning. We'll look at and compare two types of tax efficient investment schemes Venture Capital Trusts (VCT's) and Enterprise Investment Schemes (EIS's).

VCT's and EIS's have been used for many years, and they are as tax efficient now as they have always been. Both schemes offer good tax advantages such as a reduction in income tax liability, potential tax-free growth in value, and the opportunity to hold over other capital gains.

It is a great opportunity to add significant value to clients' planning by helping them to navigate the tax, legislative, and economic environment.

Not only will we explore the tax benefits, but we will also look at the risks involved and help identify their suitability for clients in different scenarios.

The webinar would be of particularly benefit and interest to financial advisers and paraplanners and managers involved in the development of advisers and paraplanners.