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If you save or invest money, you'll generally have to pay tax on any interest or income you get, but there are some ways of investing that give you a more efficient, or even tax-free, return.
Self-Select ISAs allows you to buy and sell shares but any growth and returns are free from any further income tax liability and capital gains tax.
The Bespoke Discretionary Service and the Value Investment Portfolio use ISAs to maximise the tax efficiency of the portfolios through generating tax-free income and sheltering gains from capital gains tax.
A Self-Invested Personal Pension or SIPP allows you to take control over your pension and ultimately the funds you will have available in retirement. In addition to the capital gains, income and inheritance tax benefits offered by all pension arrangements, SIPPs offer three main advantages over a traditional pension: control, flexibility and transparency. Find out more about SIPPs »
The Inheritance Tax (IHT) Portfolio Service is designed to help limit the effect of inheritance tax without limiting access to and ownership of your capital. By taking advantage of Business Property Relief (BPR) on qualifying shares listed on the Alternative Investment Market (AIM) you can claim 100 per cent tax relief once the portfolio has been held for two years. Find out more »
Venture Capital Trusts (VCT) offer income tax relief of 30 per cent when invested at subscription, subject to a maximum investment of £200,000, while minimums are usually around £3000 - £5000. Find out more »
Capital Gains Tax (CGT) is payable on the sale or disposal of an asset. The CGT annual allowance for the 2013/14 tax year is £10,900. Gains are treated as the 'top slice' of an individual's income and taxed at marginal rates; the rate is 18% up to the higher rate threshold and 28% on amounts above.
The annual allowance for CGT will increase from £10,900 to £11,000 for the 2014/15 tax year. This will further increase to £11,100 for the 2015/16 tax year.
Our investment managers will always have regard to your tax situation when making investment decisions, although gains will be taken above your annual allowance when appropriate. Should you have any large gains from the sale of other assets or businesses and not wish to take any more from your portfolio then please advise your investment manager. Similarly, if you have any losses that can offset gains then please advise us so that the full picture can be taken into account.
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