Investment platform Hargreaves Lansdown launched a new online VCT investment service, citing the government’s extension of the scheme and tax changes announced at the Budget, which included raising capital gains tax from 20per cent to 24 per cent for higher earners.
Hargreaves’ service will debut with a group of five VCTs including the Calculus VCT. Clients will pay a £50 dealing charge to apply for the VCT service and a subsequent £50 fee to trade. Hargreaves will not take commissions or charge platform fees.
John Glencross Chief Executive of Calculus commented: “Hargreaves Lansdown’s return to the VCT market is a welcome development for both investors – particularly in the post budget higher tax environment – and the broader UK economy. VCTs play a crucial role in providing funding to small and growing businesses, the backbone of innovation and job creation in the UK. The Calculus VCT – available through Hargreaves Lansdown – offers investors a diverse portfolio of companies across a unique sector mix of Healthcare, Technology and Entertainment. For a limited time, investors can also benefit from a 2% initial fee discount.“
The tax rates shown are based on current UK legislation. Tax benefits depend on the individual circumstances of each investor and may be subject to change in the future. If you are unsure of your tax situation you should seek professional advice from a qualified tax adviser.