Venture Capital Trust tax rebate and inheritance rules clarified
UKPulse Consumer Desk
Investors considering Venture Capital Trusts (VCTs) can claim a 30% income tax rebate, but questions arise regarding inheritance within five years.
- Venture Capital Trust (VCT) investments allow a 30% income tax rebate.
- Questions have been raised about the repayment of this rebate if the investor dies within five years and the VCT is inherited.
Individuals considering an investment in a Venture Capital Trust (VCT) are eligible to claim a 30% income tax rebate. However, concerns have been raised regarding the implications if an investor dies within five years of the investment.
Specifically, there is uncertainty about whether the deceased's estate would be liable to repay the income tax rebate and if the VCT shares would pass to a spouse intact.