We believe it’s crucial to keep supporting our staff in developing their careers and experience. Not only does this benefit our clients, but also enables us to be an employer of choice, attracting and retaining talented individuals within a fast moving industry.
For this reason, we recently held an event in London for our para-planners across the NLP Financial Management group. The day focussed on developing their existing knowledge of tax efficient investments including:
BPR: Business Property Relief – Investments that qualify for BPR can be passed on free from inheritance tax upon the death of the investor, provided the shares have been owned for at least two years at that time.
VCT: Venture Capital Trusts – after ISA and pensions allowances have been exhausted, VCT’s could be the next best option. Adventurous investors get the chance to invest (up to £200,000 annually) in small firms to help them thrive, with the Government offering generous tax breaks in the process. You get up to 30% income tax relief on the amounts invested (up to the total tax due), tax free capital gains, and tax free dividends. However they are high-risk and longer term than more traditional investments.
EIS: The Enterprise Investment Scheme – run by the Government, this aims to help younger, higher risk businesses raise finance by offering risk-taking investors substantial tax relief; up to £1m worth of investments in companies per person that qualify.
The staff then received important updates on Compliance and HR from relevant experts, before heading out as a team for some rest and relaxation!
Due to the high risk nature of BPR, VCT and EIS products, financial advice should be sought before making an investment. Tax reliefs stated are subject to change and are dependent on individual circumstances.