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The views and opinions expressed herein are those of the authors and do not necessarily reflect the views of LightTower Partners and its affiliates or employees. The information set forth herein has been obtained or derived from sources believed by the authors to be reliable. LightTower Partners does not make any representation or warranty, express or implied, as to the information's accuracy or completeness, nor does the author recommend that the attached information serve as the basis of any investment decision and it has been provided to you solely for informational purposes only and does not constitute an offer or solicitation of an offer, or any advice or recommendation, to purchase any securities or other financial instruments, and may not be construed as such.

Author: Amy Yu

28 Mar 2024

Pembroke VCT declares dividends

Pembroke VCT has announced an interim dividend of 2p per share to be paid on 23 April 2024.   All new applications for the current offer received by 18 March 2024 will qualify for the dividend. Read the full RNS announcement here. As well as the announced 2p dividend for the 2025 financial year, Pembroke VCT has also paid 27p per share […]

Pembroke VCT has announced an interim dividend of 2p per share to be paid on 23 April 2024.  

All new applications for the current offer received by 18 March 2024 will qualify for the dividend. Read the full RNS announcement here.

As well as the announced 2p dividend for the 2025 financial year, Pembroke VCT has also paid 27p per share over the previous 5 financial years.
Pembroke VCT pays tax free dividends, having paid out at least 5p per year in each of the last 4 years. One in four of its portfolio companies are individually valued at £50 million or more.

Pembroke Offer now half full

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28 Mar 2024

Maven VCT’s trigger over-allotment facilities

There is limited time remaining for your clients to invest in Maven VCTs’ joint Offers. With only 1 week to go until tax year end, the deadline for receipt of applications and cleared funds for allotment in the 2023/24 tax year is 9am on Friday 5 April 2024. Due to ongoing investor demand, after surpassing the initial £20m target, the […]

There is limited time remaining for your clients to invest in Maven VCTs’ joint Offers. With only 1 week to go until tax year end, the deadline for receipt of applications and cleared funds for allotment in the 2023/24 tax year is 9am on Friday 5 April 2024.

Due to ongoing investor demand, after surpassing the initial £20m target, the Maven VCTs have announced the use of their over-allotment facilities. There is now remaining capacity in all VCTs, as the Maven VCTs can accept further applications up to an increased £30m capacity.

  • Applicants or their advisers are able to use a single application to invest in any or all of the VCTs for both the 2023/24 and 2024/25 tax years, and can also apply quickly and conveniently online.

The terms and conditions of the offer are set out in the Securities Note.

About Maven Capital Partners

  • Manage c.£691 million* in aggregate, including funds, on behalf of the four VCTs and other private equity and property assets
  • One of the most active managers in the VCT industry, with 41 new private company investments completed since January 2020¹
  • Four established VCT portfolios of c.60 private companies each, broadly diversified by sector and geography, plus an AIM portfolio of 20 – 40² companies per VCT
  • History of regular tax-free dividend payments, and a target 5% dividend yield

 

 

 

 

Maven VCTs are intended for UK taxpayers aged 18 or over with an investment horizon of five or more years and who are able to bear up to 100% capital loss and with a medium to high risk tolerance. Investors in Maven VCT will generally be informed investors with either experience in investing in VCTs or with a knowledge and understanding of the risks involved.

Sources: Maven Capital Partners. *As at 31/12/2023 (Value of assets managed by Maven Capital Partners and Maven Property Investment Limited). ¹As at 01/01/2024. ²As at the most recently published accounts. ³Average dividend payments over past five full financial years as at 01/01/2024. 4Based on dividends paid or declared for most recent financial year, and previous year-end NAV per share. The payment of dividends is not guaranteed, and historical levels are no indication or forecast of likely future dividend levels. The quantum and timing of dividends are likely to be closely linked to portfolio realisations.

Past performance is not a guide to future performance; the value of an investment and income from it can go down as well as up. Your capital is at risk. 

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19 Mar 2024

Maven Capital Partners’ Ewan MacKinnon reveals growth opportunities in vibrant UK sectors

The interview explores Maven Capital Partners’ Ewan MacKinnon’s insights on investment opportunities and risks across different sectors for investors.

The interview explores Maven Capital Partners’ Ewan MacKinnon’s insights on investment opportunities and risks across different sectors for investors.

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23 Jan 2024

Multi-Manager tax event recording: Pembroke VCT – January 2024

This video is for Professional Investors and Eligible Counterparties only and it should not be relied upon by any other person. Any views expressed in this video are those of the speaker, are subject to change without notice, and do not constitute investment advice. Your capital is at risk. Past performance is not a guide […]

This video is for Professional Investors and Eligible Counterparties only and it should not be relied upon by any other person. Any views expressed in this video are those of the speaker, are subject to change without notice, and do not constitute investment advice. Your capital is at risk. Past performance is not a guide to future performance.

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22 Jan 2024

Multi-Manager tax event recording: Edition EIS Scale Up Tranche – January 2024

This video is for Professional Investors and Eligible Counterparties only and it should not be relied upon by any other person. Any views expressed in this video are those of the speaker, are subject to change without notice, and do not constitute investment advice. Your capital is at risk. Past performance is not a guide […]

This video is for Professional Investors and Eligible Counterparties only and it should not be relied upon by any other person. Any views expressed in this video are those of the speaker, are subject to change without notice, and do not constitute investment advice. Your capital is at risk. Past performance is not a guide to future performance.

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22 Jan 2024

Multi-Manager tax event recording: Maven VCT – January 2024

This video is for Professional Investors and Eligible Counterparties only and it should not be relied upon by any other person. Any views expressed in this video are those of the speaker, are subject to change without notice, and do not constitute investment advice. Your capital is at risk. Past performance is not a guide […]

This video is for Professional Investors and Eligible Counterparties only and it should not be relied upon by any other person. Any views expressed in this video are those of the speaker, are subject to change without notice, and do not constitute investment advice. Your capital is at risk. Past performance is not a guide to future performance.

Maven VCTs are intended for UK taxpayers aged 18 or over with an investment horizon of five or more years and who are able to bear up to 100% capital loss and with a medium to high risk tolerance. Investors in the VCT will generally be informed investors with either experience in investing in VCTs or with a knowledge and understanding of the risks involved.

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27 Jan 2022

Unicorn AIM VCT Scores 89/100 – Tax Efficient Review’s highest ever rating for an AIM VCT

We are delighted to announce that the Unicorn AIM VCT Scores 89 / 100 by Tax Efficient Review. Click here to for a copy of the review. The Unicorn AIM VCT has recently launched an Offer to raise up to £25 million through the subscription of  ordinary shares. Full details of the Offer are contained in […]

We are delighted to announce that the Unicorn AIM VCT Scores 89 / 100 by Tax Efficient Review.

Click here to for a copy of the review.

The Unicorn AIM VCT has recently launched an Offer to raise up to £25 million through the subscription of  ordinary shares. Full details of the Offer are contained in the Prospectus.

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27 Jan 2022

Unique Manager Showcase: Unicorn AIM VCT Webinar Recording

Catch up with Chris Hutchinson, Director & Senior Fund Manager at Unicorn Asset Management discussing the Unicorn AIM VCT and the new £25m Offer for Subscription.

Catch up with Chris Hutchinson, Director & Senior Fund Manager at Unicorn Asset Management discussing the Unicorn AIM VCT and the new £25m Offer for Subscription.

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27 Jan 2022

Unique Manager Showcase: Unicorn AIM IHT & ISA Portfolio Webinar Recording

Catch up with Alex Game, Fund Manager & ESG Officer at Unicorn Asset Management who discusses the Unicorn AIM IHT & ISA Portfolio Service at the ‘Q1 2022: VCT & IHT Planning Webinar‘.

Catch up with Alex Game, Fund Manager & ESG Officer at Unicorn Asset Management who discusses the Unicorn AIM IHT & ISA Portfolio Service at the ‘Q1 2022: VCT & IHT Planning Webinar‘.

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20 Dec 2021

Just Launched – CPD Qualifying Adviser Training Portal

We are delighted to announce our recently launched CPD Qualifying Adviser Training Portal. With tax season in full swing, the learning portal is an opportunity to brush up on your IHT and VCT knowledge to help your clients and gain up to 2 hours worth of CPD structured credits from CISI. Sign up here and get […]

We are delighted to announce our recently launched CPD Qualifying Adviser Training Portal.

With tax season in full swing, the learning portal is an opportunity to brush up on your IHT and VCT knowledge to help your clients and gain up to 2 hours worth of CPD structured credits from CISI.

Sign up here and get started now! Don’t forget to check your junk inbox for email confirmation. If you are experiencing any problems with the portal, please email us or call 020 7071 3920.

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13 Aug 2021

Webinar recording: The Inside Track on AIM – 10 August 2021

If you have any questions about the Unicorn AIM IHT & ISA Portfolio Service, please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3940.

If you have any questions about the Unicorn AIM IHT & ISA Portfolio Service, please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3940.

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29 Jun 2021

Webinar Recording: The Inside track on AIM – Fund manager insight & financial planning ideas June 2021

By watching the full recording, you qualify for 1hr Structured CPD Credits. Please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3940 to claim your certificate. If you have any further questions please get in touch with the email or phone number provided above.

If you have any further questions please get in touch with the email or phone number provided above.

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6 Apr 2021

Socially Responsible ESG portfolio options launched for the Unicorn AIM IHT & ISA Portfolio Service.

We are pleased to announce the launch of a Socially Responsible ESG portfolio option for the Unicorn AIM IHT & ISA Portfolio Service. On top of the existing Growth Focus and Dividend Focus portfolios, investors in the Service can now opt for additional ESG selection criteria through the ‘Responsible Growth Focus’ or ‘Responsible Income Focus’ […]

We are pleased to announce the launch of a Socially Responsible ESG portfolio option for the Unicorn AIM IHT & ISA Portfolio Service.

On top of the existing Growth Focus and Dividend Focus portfolios, investors in the Service can now opt for additional ESG selection criteria through the ‘Responsible Growth Focus’ or ‘Responsible Income Focus’ portfolio options. For more information, please click here for the press release.

Reduced Initial Charge – Limited Time Only
To celebrate the launch of the Responsible portfolios, we are offering a reduced initial fee of 0.5% (usually 2%) until the 30th June 2021.

 

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1 Apr 2021

Maven Joint VCT Offers Now Closed – £40m Raised, Capacity Full

Following another successful fund raise, the joint Offers by Maven VCT 1 & 5 have now closed to new investment, having raised the full £40 million. The funds raised will allow these VCTs to make further new and follow-on investments in ambitious, fast growing companies, at a time when Maven’s nationwide team is generating a strong pipeline […]

Following another successful fund raise, the joint Offers by Maven VCT 1 & 5 have now closed to new investment, having raised the full £40 million.

The funds raised will allow these VCTs to make further new and follow-on investments in ambitious, fast growing companies, at a time when Maven’s nationwide team is generating a strong pipeline of new transactions across its regional office network.

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30 Mar 2021

Pembroke VCT £40m Offer – Closed to New Applications

Following another successful fund raise, the Pembroke VCT has now sold out and is closed to new applications. Pembroke have raised over £150 million since 2012 and the B Ordinary Share class now has £79.1 million invested in 40 companies. Pembroke already have a healthy pipeline of prospective investment opportunities, and the funds raised will allow […]

Following another successful fund raise, the Pembroke VCT has now sold out and is closed to new applications.

Pembroke have raised over £150 million since 2012 and the B Ordinary Share class now has £79.1 million invested in 40 companies.

Pembroke already have a healthy pipeline of prospective investment opportunities, and the funds raised will allow them to continue to back companies which they believe are capable of significant organic growth and sustainable cash generation.

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9 Mar 2021

Webinar Recording: Unicorn AIM IHT& ISA Portfolio Update

KEY HIGHLIGHTS: The AIM performance attribution in 2020 The attractive opportunities that Unicorn are seeing in the AIM Company updates and examples – Frontier Developments and Somero Positive outlook for the UK economy and UK equities If you have any questions please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3940.

KEY HIGHLIGHTS:
  • The AIM performance attribution in 2020
  • The attractive opportunities that Unicorn are seeing in the AIM
  • Company updates and examples – Frontier Developments and Somero
  • Positive outlook for the UK economy and UK equities

If you have any questions please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3940.

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28 Jan 2021

Webinar Recording: Unicorn AIM VCT Portfolio Update

For professional clients only. Find out more about the new £15m offer, the latest updates on the VCT and on the underlying portfolio companies from manager Chris Hutchinson. For further information, click here or please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3920.

For professional clients only.

Find out more about the new £15m offer, the latest updates on the VCT and on the underlying portfolio companies from manager Chris Hutchinson.

For further information, click here or please email investor-relations@lighttowerpartners.co.uk or call 020 7071 3920.

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4 Nov 2020

Webinar Recording: Unicorn AIM IHT & ISA Portfolio Service

Catch up with our recent webinar recording with the Unicorn investment team below as part of the Unique Manager Showcase Series – The 2020-21 Landscape for Tax Efficient Products. If you have any questions, please do not hesitate to contact the team by email or by calling 020 7071 3940. 

Catch up with our recent webinar recording with the Unicorn investment team below as part of the Unique Manager Showcase Series – The 2020-21 Landscape for Tax Efficient Products.

If you have any questions, please do not hesitate to contact the team by email or by calling 020 7071 3940. 

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20 Mar 2020

VCT Applications Amid Corona – DocuSign, scanned & email options available

Client signature missing: If the client isn’t able to print it off, sign and send it back, they can fill in the attached forms online and use DocuSign, which City have confirmed they accept for all our VCTs and e-mail that into ra@city.uk.com They can then transfer the cash directly to City, using the bank […]

Client signature missing:

If the client isn’t able to print it off, sign and send it back, they can fill in the attached forms online and use DocuSign, which City have confirmed they accept for all our VCTs and e-mail that into ra@city.uk.com

They can then transfer the cash directly to City, using the bank details and reference stated on each app.

IFA signature missing:

If the IFA isn’t able to sign, they can either:

  • Also use DocuSign
  • Or can be signed by any other advisor or para-planner in the company. The firm will have to include a cover letter using company headed paper saying that this person is authorised to sign on the original IFA’s behalf. When this has all blown over, they can use a Change of Authority letter to change the IFA attached to this investment

Please note the below for Pembroke VCT applications:

As you may be aware lots of our valued IFA clients are now working remotely and in situations where adding their own signature to the application form is made difficult. To combat this we have agreed with Howard Kennedy our sponsors that scanned application forms with the investors signature can be emailed to ra@city.uk.com without having the IFA sign the form as long as the IFA includes the following statement in their email:

“I/We confirm agreement to the terms set out in Section 11 of the Application Form, as set out in the prospectus for Pembroke VCT plc dated 2 September 2019.”

If you have any further queries, please don’t hesitate to contact the team by email or by calling 020 7071 3920.

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20 Mar 2020

Unicorn AIM VCT: Completing VCT applications electronically 

Process for completing your application electronically for the Unicorn AIM VCT We have had several questions in light of current working practice as to how investors can still access the Unicorn AIM VCT this year without needing to fill in hard copies and get wet ink signatures and we are pleased to say the process […]

Process for completing your application electronically for the Unicorn AIM VCT

We have had several questions in light of current working practice as to how investors can still access the Unicorn AIM VCT this year without needing to fill in hard copies and get wet ink signatures and we are pleased to say the process is simple:

Step 1:

The IFA should fill in the interactive application form for Unicorn AIM VCT as usual and send to the client to check.

Click here for an interactive application form.

Step 2:

​The client should confirm their details and return the application form to the adviser with their name and date sent back to the adviser on the form (this can be typed into the interactive application form).

Step 3:

The adviser should then return the completed form to ra@city.uk.com with the email title Unicorn AIM VCT.

Step 4:

The client should then make arrangement for the money detailed in the application form to be sent to City Partnership either by way of electronic transfer or by cheque.

If you have any further queries, please don’t hesitate to contact the team by email or by calling 020 7071 3920.

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30 Jul 2018

Unicorn AIM IHT/ISA Service Update – Q2 2018

Alex Game and Max Ormiston of the Unicorn AIM IHT/ISA Portfolio Service shares their update on the service over the last quarter and the opportunities they are seeing in AIM. https://lighttowerpartners.co.uk/wp-content/uploads/sites/7/2018/07/Unicorn-AIM-08-Aug-18-edited.mp3 To find out more about the Service, please click here or call our team on 020 7071 3940.

Alex Game and Max Ormiston of the Unicorn AIM IHT/ISA Portfolio Service shares their update on the service over the last quarter and the opportunities they are seeing in AIM.

To find out more about the Service, please click here or call our team on 020 7071 3940.

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26 Jun 2018

Introduction to Seneca Growth Capital VCT – Conference Call Recording

Please click here to listen to a conference call with Richard Manley, manager of the Seneca Growth Capital VCT. Click here for the presentation discussed. If you have any questions or would like further information, please contact us by email or call us on 020 7071 3920.  

Please click here to listen to a conference call with Richard Manley, manager of the Seneca Growth Capital VCT.

Click here for the presentation discussed.

If you have any questions or would like further information, please contact us by email or call us on 020 7071 3920.

 

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10 May 2018

Seneca Partners launches its new VCT offering – Press Release

SENECA LAUNCHES ITS NEW VCT OFFERING Seneca Partners, the SME specialist with a focus on helping companies to grow, has now officially launched its new VCT offering; Seneca has partnered with existing Hygea vct plc and is launching a New B Share class.  The New B Share class will be managed by Seneca and will […]

SENECA LAUNCHES ITS NEW VCT OFFERING

Seneca Partners, the SME specialist with a focus on helping companies to grow, has now officially launched its new VCT offering; Seneca has partnered with existing Hygea vct plc and is launching a New B Share class.  The New B Share class will be managed by Seneca and will complement its existing tax efficient range which includes EIS and IHT offerings with total AUM of more than £75 million. The launch of its VCT offering means that Seneca Partners now offers a full spectrum tax efficient product range.

Seneca Partners is well positioned to enter the VCT sector – the independent, investment management and corporate advisory business focused on the Northern Powerhouse, is building on the strength of its existing EIS business, which invests in the UK’s growing businesses and since 2012 has completed more than 70 growth capital investment rounds across over 30 companies.

Hygea vct plc (which will be renamed as the Seneca Growth Capital VCT plc upon the first allotment of New B shares, expected in June) is aiming to raise £10m in its first year which is intended to be invested in a portfolio of seven to ten initial investments.

The Seneca Growth Capital VCT will have a generalist investment strategy, which will benefit from Seneca Partners’ expertise in the growth capital sector. The investment team is focused on both private and AIM quoted businesses which benefit from strong management teams, robust business models, attractive growth prospects and an expectation of delivering a profitable and timely investment exit.

One significant structural advantage of partnering with an existing VCT is that whilst the New B Share class will be completely separate from the existing VCT’s residual investments, it will benefit from the VCT’s existing distributable reserves, which makes it possible to pay dividends on the New B Shares from the first year. Partnering with Hygea has also allowed Seneca Partners to bring its VCT to market more quickly.

Richard Manley, CEO of Seneca Partners comments; “In the current landscape of pension reform and record levels of investment in the VCT sector, it is timely for Seneca Partners to launch our VCT offering which  allows us to provide another tax efficient access point for investors seeking exposure to our growth capital investment expertise. The recent legislative changes, including those brought about by the Patient Capital Review, make Seneca Partners’ proven experience in growth capital investing even more relevant than ever before.”

Importantly, Seneca Partners directors and senior management team will be investing in the New B Share class and costs to be borne by the New B share class are capped, with Seneca Partners also taking on the launch costs.

Please call Zoe Powell on 020 7071 3920 if you would like to speak to Richard Manley, CEO Seneca Partners

-Ends-

Notes to Editors

Seneca Partners

https://investing.senecapartners.co.uk/products-and-funds/vct-offer/

Seneca Partners is an award-winning specialist SME investment and advisory business.  Formed in 2010, and headquartered in the North West of England, the management team have extensive experience across a range of sectors, including private equity, corporate finance, wealth management, accountancy and stockbroking. Seneca won “Alternative Finance Provider” in both 2016 and 2017 at the North West Business Insider Awards

Seneca Partners is also the founding member of the Seneca branded network of companies which includes Seneca Investment Managers, a Liverpool based fund manager with more than £500 million under management (as at 31 March 2018), Seneca Finance Limited, a property bridging finance provider with a loan book of more than £20 million (as at 31 March 2018) and Seneca Property Limited who originated more than £25 million of property acquisitions in the 12 months to 31 March 2018.

This wider Seneca branded network of companies operates from 5 offices across the North of England and employs more than 60 people.

Hygea

Please see www.hygeavct.com and www.senecapartners.co.uk for further details.

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9 Apr 2018

Jack Rose in Professional Adviser: An outlook on the VCT landscape

As the tax year draws to an end, Jack Rose (Head of Tax Efficient Products at LightTower Partners) reminds investors and their advisers they need to adapt to the new VCT rules and to the fact the best VCT offers will continue closing earlier and being available for shorter periods of time. Click here to read […]

As the tax year draws to an end, Jack Rose (Head of Tax Efficient Products at LightTower Partners) reminds investors and their advisers they need to adapt to the new VCT rules and to the fact the best VCT offers will continue closing earlier and being available for shorter periods of time.

Click here to read the full article.

For more information, please email info@lighttowerpartners.co.uk or call 020 7071 3920.

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2 Nov 2017

Unicorn AIM IHT/ISA Update with Chris Hutchinson

Chris Hutchinson, manager of the Unicorn AIM IHT/ISA Portfolio Service shares his update on the service since launch, where he continues to find value in AIM and the potential risks of following the pack when it comes to investing in the successful junior index.   To find out more about the Service, please click here or call our […]

Chris Hutchinson, manager of the Unicorn AIM IHT/ISA Portfolio Service shares his update on the service since launch, where he continues to find value in AIM and the potential risks of following the pack when it comes to investing in the successful junior index.

 

To find out more about the Service, please click here or call our team on 020 7071 3940.

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2 Oct 2017

Latest Unicorn AIM VCT Conference Call with Chris Hutchinson

Click the link below to listen to the latest conference call recording about Unicorn’s £30m top-up offer for their awarding-winning AIM VCT. The closing date for the offer has recently been extended and will now close by 17 November 2017 or earlier, depending on available capacity. To find out more about the VCT, please click here or […]

Click the link below to listen to the latest conference call recording about Unicorn’s £30m top-up offer for their awarding-winning AIM VCT.

The closing date for the offer has recently been extended and will now close by 17 November 2017 or earlier, depending on available capacity.

To find out more about the VCT, please click here or call our team on 020 7071 3940.

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15 Aug 2017

Unicorn AIM VCT Conference Call with Chris Hutchinson

Click the link below to listen to a recent conference call recording about Unicorn’s new £30m top-up offer for their awarding-winning AIM VCT.   The Unicorn team manages over £1 billion of assets, across a range of Funds, of which around £300 million is specifically invested in AIM-listed companies*. The Unicorn team therefore bring their […]

Click the link below to listen to a recent conference call recording about Unicorn’s new £30m top-up offer for their awarding-winning AIM VCT.

 

The Unicorn team manages over £1 billion of assets, across a range of Funds, of which around £300 million is specifically invested in AIM-listed companies*. The Unicorn team therefore bring their considerable experience and success in small cap investing to this offering.

To find out more about the new share offer, please click here or call our team on 020 7071 3940.

*Source: Unicorn Asset Management as at 30/06/17.

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9 Aug 2017

Jack Rose on Professional Adviser: Tax Efficient Calendar – Q1 and Q2

Jack Rose who is Head of Tax Efficient Products at LGBR runs through the first and second quarters, highlighting what advisers should do when and how best to avoid the end of tax-year rush. Click here to read the full post on Professional Adviser. For more information on the range of tax products that LGBR […]

Jack Rose who is Head of Tax Efficient Products at LGBR runs through the first and second quarters, highlighting what advisers should do when and how best to avoid the end of tax-year rush.

Click here to read the full post on Professional Adviser.

For more information on the range of tax products that LGBR Capital has to offer please click here or call 020 3195 7100.

 

 

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26 Jul 2017

Unicorn AIM VCT New £30m Share Offer – NOW OPEN

We are pleased to announce that the new £30m share offer for the Unicorn AIM VCT is now open. Last year’s £15m offer sold out in just 2 weeks, so we would recommend advisers act quickly. Click here for a copy of the Prospectus and Application Form. Click here for a recent review by Martin […]

We are pleased to announce that the new £30m share offer for the Unicorn AIM VCT is now open. Last year’s £15m offer sold out in just 2 weeks, so we would recommend advisers act quickly.

  • Click here for a copy of the Prospectus and Application Form.
  • Click here for a recent review by Martin Churchill (87/100).
  • Click here for the latest factsheet.

Unicorn’s AIM-focused VCT has generated market-leading capital performance and delivered consistent dividend growth since launch in 2001. Unicorn’s AIM VCT was voted ‘Best VCT’ at the 2016 Investment Company of the Year Awards.

The Unicorn team manages over £1 billion of assets, across a range of Funds, of which around £300 million is specifically invested in AIM-listed companies*. The Unicorn team therefore bring their considerable experience and success in small cap investing to this offering.

To find out more about the new share offer, please click here or call our team on 020 7071 3940.

*Source: Unicorn Asset Management as at 30/06/17.

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13 Jul 2017

Growth Investor Awards 2017 Finalist – Unicorn Asset Management

We are pleased to announce that Unicorn has been chosen as a finalist at the Growth Investor Awards 2017 for the ‘Best AIM Investment Manager’ category. Click here for a full list of finalists. To find out more about the range of tax products that Unicorn have to offer please click here or call 020 3195 7100.

We are pleased to announce that Unicorn has been chosen as a finalist at the Growth Investor Awards 2017 for the ‘Best AIM Investment Manager’ category.

Click here for a full list of finalists.

To find out more about the range of tax products that Unicorn have to offer please click here or call 020 3195 7100.

GIA 2017 Finalist Logo - Best AIM Investment Manager

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24 Apr 2017

Unicorn AIM IHT ISA – How to pass on ISAs after you’ve passed on

Chris Hutchinson, manager of the Unicorn AIM IHT & ISA Portfolio Service has recently been mentioned in an article on the Times as a potential fund to invest in for those looking to access AIM stocks. “This is a small fund but is run by one of the most successful smaller companies managers, Chris Hutchinson […]

Chris Hutchinson, manager of the Unicorn AIM IHT & ISA Portfolio Service has recently been mentioned in an article on the Times as a potential fund to invest in for those looking to access AIM stocks.

“This is a small fund but is run by one of the most successful smaller companies managers, Chris Hutchinson of Unicorn AIM venture capital trust.”

Click here to read the full article.

For more information about the service, please email us or call 020 7071 3940.

 

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7 Mar 2017

Triple Point Income VCT Conference Call

Triple Point Managing Partner, Ben Beaton provides an introduction to the newly launched £15m E Share Offer for Triple Point’s Income VCT plc as well as a detailed look at the underlying investment strategy which is focused on SME leasing for infrastructure and industrial support services. This will include an outline to Triple Point’s deal […]

Triple Point Managing Partner, Ben Beaton provides an introduction to the newly launched £15m E Share Offer for Triple Point’s Income VCT plc as well as a detailed look at the underlying investment strategy which is focused on SME leasing for infrastructure and industrial support services. This will include an outline to Triple Point’s deal flow and the exit opportunities for the VCT. For further information on the VCT,  please click here or call 020 7071 3910.

 

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28 Feb 2017

Seneca Partners Opens Second Tax Offer Amid Sector Demand

With Tax-efficient investments, including Enterprise Investment Scheme (EIS) and venture capital trusts (VCTs) filling rapidly this tax year, Seneca Partners have opened the Managed Storage EIS Fund No.2.  In a recent article by Professional Adviser, LGBR Capital head of tax products Jack Rose has attributed the surge in sector demand to VCT rule changes, which mean management […]

With Tax-efficient investments, including Enterprise Investment Scheme (EIS) and venture capital trusts (VCTs) filling rapidly this tax year, Seneca Partners have opened the Managed Storage EIS Fund No.2. 

In a recent article by Professional Adviser, LGBR Capital head of tax products Jack Rose has attributed the surge in sector demand to VCT rule changes, which mean management buy-out strategies are now ruled out and investors must hold an investment for at least seven years to qualify for the tax savings. He said this has restricted the ability of many managers to raise large amounts of capital this tax year.

Click here to read the full article.

For more information about their second offering, please email seneca@lighttowerpartners.co.uk or call 020 7071 3926.

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19 Jan 2017

The Seneca Managed Storage EIS Fund Scores 85/100 From Allenbridge

I am pleased to announce that Seneca’s Managed Storage EIS Fund has scored a strong 85/100 in Allenbridge’s latest EIS review. “Seneca’s history in the managed storage sector, and evidence collected to ascertain the likelihood of hitting Seneca’s targets, as well as the background of the operating partner, give us confidence that Seneca’s investment target […]

I am pleased to announce that Seneca’s Managed Storage EIS Fund has scored a strong 85/100 in Allenbridge’s latest EIS review.

“Seneca’s history in the managed storage sector, and evidence collected to ascertain the likelihood of hitting Seneca’s targets, as well as the background of the operating partner, give us confidence that Seneca’s investment target of 1.2x is both achievable and realistic”

Click here to read the full report.

For more information, please email us or call 020 7071 3926.

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16 Dec 2016

Conference Call With Chris Hutchinson – Unicorn AIM VCT

Please click the link below to listen to the recent conference call with manager Chris Hutchinson on his soon to be launched, £15m offer Unicorn AIM VCT. For more information on the range of tax efficient products that LGBR Capital have to offer please click here or 020 3195 7071.

Please click the link below to listen to the recent conference call with manager Chris Hutchinson on his soon to be launched, £15m offer Unicorn AIM VCT.

For more information on the range of tax efficient products that LGBR Capital have to offer please click here or 020 3195 7071.

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25 Nov 2016

Unicorn AIM VCT Wins The Investment Week VCT Award

We are pleased to announce that the Unicorn AIM VCT has won the VCT award in Investment Week’s ‘Investment Company of the Year Awards 2016.’ The Investment Company of the Year Awards aim to recognise and reward excellence in closed-ended fund management. The judging panel for the awards is made up of some of the […]

We are pleased to announce that the Unicorn AIM VCT has won the VCT award in Investment Week’s ‘Investment Company of the Year Awards 2016.’

The Investment Company of the Year Awards aim to recognise and reward excellence in closed-ended fund management.

The judging panel for the awards is made up of some of the UK’s leading researchers and investors in investment trusts and closed-ended companies, as well as several senior board members with many years’ experience in the industry.

Click here to see the full list of winners.

For more information on the Unicorn AIM VCT, click here or call us on 020 7071 3940.

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23 Nov 2016

What The EIS Offers And How It Works By Jack Rose

In the latest in his series of tax-planning articles for Professional Adviser, Jack Rose (Head of Tax Products at LGBR Capital) offers an introduction to the Enterprise Investment Scheme, looking at how it works, how to access it and the types of client it could suit. The Enterprise Investment Scheme (EIS) is a government initiative […]

In the latest in his series of tax-planning articles for Professional Adviser, Jack Rose (Head of Tax Products at LGBR Capital) offers an introduction to the Enterprise Investment Scheme, looking at how it works, how to access it and the types of client it could suit.

The Enterprise Investment Scheme (EIS) is a government initiative launched in 1994, designed to encourage investment by individuals into early-stage companies as an alternative source of funding to more traditional sources of capital.

To balance the increased risk of investing in smaller companies, there are some attractive tax breaks offered by the government. Although more than 20 years old, the EIS heritage actually stretches back to 1981 through its original guise of the Business Start-up Scheme (‘BSUS’) and then latterly the Business Expansion Scheme (‘BES’) in 1983, before finally becoming as we know it as today in 1994.

Since then, more than 24,500 companies have received investment through the scheme and more than £14bn has been raised. Last year alone, according to the April 2016 HMRC & National Statistics Report, more than £1.6bn was raised under the EIS scheme.

Unlisted or AIM-listed companies can apply to HMRC to become “EIS qualifying”, which requires meeting several investment criteria, including:
* They must undertake a “qualifying trade” – certain trades, such as dealing in securities/financial instruments and forestry and farming are excluded;
* They must have fewer than 250 employees, unless it is a ‘knowledge intensive’ business;
* The company must not be controlled by another company;
* The company’s gross assets must not exceed £15m before the investment, or £16m post investment; and
* An investee company cannot be older than seven years, unless it is a knowledge intensive business.

It is also important to note that, despite often being referred to as ‘EIS funds’, they are not collective investment schemes. An investor in an EIS will be the owner of shares in its underlying companies, rather than owning shares or units in a fund.

Given the investment criteria above, EIS companies are smaller and less liquid than larger, listed investments. To compensate investors for the extra risk taken, EIS offer a number of generous tax incentives, including:
* 30% upfront income tax relief (subject to £1m investment in any tax year and provided shares are held for a minimum of three years);
* 100% inheritance tax relief after two years;
* 100% capital gains deferral for the life of the investment;
* Tax-free growth; and
* Loss relief.


Ways To Access EIS Companies

Investors can invest in single EIS companies or an EIS ‘fund’. The reason for the inverted commas is that, despite the name, an EIS ‘fund’ is structured as a discretionary management service in which a manager with expertise in unquoted companies will use their knowledge to select a portfolio of EIS-qualifying companies.

Within each of these categories there is a multitude of different investment strategies covering multiple sectors:

* Single EIS company: Investment is made directly into just one EIS company, meaning investors take on the risks/rewards of the company, which lacks diversification. There is, however, often more clarity on the company’s investment objectives and the timings on the EIS tax certificates.

* EIS portfolio service: The asset manager invests into a basket of what they believe to be robust EIS-qualifying companies, usually under a discretionary management agreement with the investor. They are usually ‘evergreen’ – meaning they are always open for investment. Each client portfolio can be slightly different, depending on the timing of investment, and is usually made up of between five and 10 underlying companies. Tax relief on cash is available only from the date of investment into each underlying EIS company, however, not the date of the initial investment into the service.

* EIS funds: These vary in structure – for instance they can be under a discretionary management agreement or structured as an alternative investment fund. The asset manager invests into a basket of investee companies that fit the fund’s investment mandate. The fund will target a specific amount of capital and will close once it reaches capacity. The number of investments will vary within the fund, depending on the investment criteria. As with the portfolio service, tax relief on the investment is available only from the date of investment into each underlying EIS company.

* Approved EIS funds: These are like the EIS funds mentioned above – with the addition that the fund has received advanced assurance from HMRC that it will qualify for EIS status before an investor’s investments are made. The manager must invest 90% of the money within 12 months of raising capital to qualify but it does ensure EIS tax relief will be on the full amount at the initial date of investment into the approved fund.


For What Types Of Client Are EIS Suitable?

First, while it is important to consider the tax-planning implications for a client, to use the ever popular tax cliché – ‘the tax tail should not wag the investment dog’. EIS should be considered on their investment merits rather than simply as a way of accessing tax reliefs. Given their focus on smaller, less liquid companies and therefore their increased risk, EIS will not be suitable for every client.

It is also important to mention EIS legislation has been through a period of transition and change over the last year or two, which has altered the landscape considerably. The removal of energy-generating assets, such as solar, and the seven year rule have restricted and tightened what investment managers are able to invest in. This has affected managers’ deal flow and, correspondingly, the products available in the market for investors.

For financial advisers looking to recommend EIS investments, it is important to research both the specific strategy and the wider market thoroughly. There are a number of independent sources such as The Tax Efficient Review, The Tax Shelter Report and MiCap, which provide a lot of useful research and information in this regard.

The 30% upfront tax relief makes EIS attractive for clients looking to offset a large income tax liability. The maximum that can be claimed is £300,000 in any one tax year.

For those who have made a capital gain that is taxable, this can be deferred by investing the gain in an EIS. This will be deferred for the duration of the EIS investment. The capital gain liability can be from three years prior, or one year post the EIS investment. It should, however, be noted this is the date from investment into qualifying EIS companies – something to watch for when using an EIS Service.

Since EIS also qualifies for 100% inheritance tax exemption after two years, it can also play a role in clients’ estate planning. If an investor holds the EIS investment at the time of death, the deferred capital gains liability is also removed along with the investment being zero-rated for inheritance tax.

Jack Rose is head of tax products at LGBR Capital

Click here to read the whole article.

For further information on LGBR’s range of tax products, please click here or contact our team by emailing info@lighttowerpartners.co.uk or by calling us on 020 3195 7100.

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27 Oct 2016

What VCTs Do And How To Use Them By Jack Rose

Consider investment merits first, then tax. VCTs turned 21 this year but how many advisers are offering them the key to the door of client portfolios? In the latest in his series of tax-planning articles, Jack Rose takes a closer look at the product. The UK government established venture capital trusts (VCTs) 21 years ago […]

Consider investment merits first, then tax.

VCTs turned 21 this year but how many advisers are offering them the key to the door of client portfolios? In the latest in his series of tax-planning articles, Jack Rose takes a closer look at the product.

The UK government established venture capital trusts (VCTs) 21 years ago in a bid to encourage investment into smaller UK businesses. The generous tax benefits offered are intended to compensate for the increased risk associated with investing in smaller, less liquid companies.

From their introduction in 1995 to the end of the 2015/16 tax year, VCTs have raised more than £6bn, according to the AIC – along the way providing important support and funding to the UK’s SME sector. Despite a number of rule changes last year – and as the following graph shows – VCTs continue to enjoy strong demand, with just under £500m raised in the 2015/16 tax year.

Annual VCT sales since launch (including indication of tax relief changes)

Source: AIC

Historical performance has also been good, with the average total return for a VCT investment of £100 to 31 December 2015 growing to £160 over five years and £187 over 10 years, according to the AIC.

In many ways, VCTs are similar to investment trusts, albeit with additional investment rules in order to qualify for tax reliefs. VCTs are public limited companies and are listed on the London Stock Exchange. Investors subscribe for shares in a VCT, which will then look to invest into a portfolio of ‘qualifying’ companies.

To be VCT-qualifying, underlying companies must meet several investment criteria including:
* Companies must be unquoted or AIM-listed
* The maximum value of a company’s gross assets (before VCT investment) is £15m
* The company cannot have more than 250 employees (before VCT investment)

At least 70% of a VCT’s cash must be invested in qualifying companies within three years. The remaining 30% can be invested in non-qualifying investments, such as cash, listed equities, debt and investment funds.

As a result of the numerous rules to which VCTs must adhere in order to qualify for tax breaks, it is important to choose an experienced manager. We will be going into more detail on what to look for in a VCT manager in our next article.

VCTs have a number of attractive tax benefits for investors. Initial investments can qualify for 30% income tax relief, subject to a maximum of £200,000 per investor per tax year and a five-year minimum holding period. Furthermore, dividends paid are tax-free and there is no capital gains tax to pay when the VCT is sold.

While all VCTs invest into smaller UK companies, the market tends to split managers into four main types:

* Generalist VCTs: As the name suggests, these invest in a general portfolio of companies across the smaller and private equity universe, often across multiple sectors.

* AIM VCTs: These focus on companies listed on the AIM market. These are the only listed companies (daily priced) that ‘qualify’ under VCT rules. AIM has been around since 1995 and is now a mature exchange, with more than £90bn raised and a total of some 1,100 companies currently listed.

* Specialist VCTs: These focus on companies in a specific sector, such as renewable energy, leisure, media or technology, where the manager believes they have an edge.

* Limited life or planned exit VCTs: While similar to generalist VCTs, these tend to focus on lower-risk, lower-return companies with the main objectives of capital preservation and providing liquidity as soon as possible after the minimum five-year holding period.

The Role Of A VCT In An Investor’s Portfolio

Before going any further, it is worth stressing that financial advisers need to analyse the VCT market thoroughly before recommending them. The AIC website provides a lot of useful research and information in this regard. There are also other good sources of independent information such as The Tax Efficient Review, Intelligent Partnership’s VCT Industry Report and The Tax Shelter Report.

What type of clients are VCTs suitable for? First, VCTs should be considered on their investment merits rather than simply as a way of accessing tax reliefs. Given their focus on smaller, less liquid companies, VCTs will not be suitable for every client.

It is also worth noting, however, that given the VCT industry has been running for more than 20 years, it is possible to find VCTs with large and mature portfolios. Many of these have started to develop the hallmarks and traits of a smaller companies investment trust and, if investors can gain access to a top-up offer within one of these portfolios, it can help potentially to lower the investment risk.

Given the changes to pension legislation over the last couple of years, there seems to an ever-increasing demand from investors for VCTs that have capped out on either the lifetime limit or their annual contributions. With their upfront income tax relief at 30% and tax-free dividends, you can see the attraction for people using them as a supplementary pension-planning option – building a diversified portfolio of different VCTs over time, to sit alongside their pension.

As Chris Hutchinson, the manager of the £150m Unicorn AIM VCT, puts it: “VCTs are sometimes mistakenly considered as being solely focused on achieving returns through capital growth but, in reality, many VCTs deliver attractive returns via regular tax-free dividend payments.”

Jack Rose is business development director for tax products, LGBR Capital

Click here to see the whole article

For more information on LGBR Capitals range of tax products please click here or call 020 3195 7100.

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18 Oct 2016

EIS Magazine – Exclusive Seneca Partners Event – Lords Cricket Ground – 20th Oct

Click here to read EIS Magazine’s article, featuring Seneca Partner’s exclusive event at the Lords Cricket Ground, on Thursday 20th October. If you would like to attend, please click here to register and for further information. Alternatively, you can email us or call our team on 020 7071 3926.

Click here to read EIS Magazine’s article, featuring Seneca Partner’s exclusive event at the Lords Cricket Ground, on Thursday 20th October.

If you would like to attend, please click here to register and for further information.

Alternatively, you can email us or call our team on 020 7071 3926.

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18 Oct 2016

EIS Magazine – Chance To Invest In Managed Storage Sector

EIS magazine announces the launch of the Seneca Managed Storage EIS Fund. Created to give investors the opportunity to invest in the managed storage sector, and at the same time benefit from EIS tax reliefs, the fund is managed by Seneca Partners, the SME specialist. Click here to read the full article. For further information […]

EIS magazine announces the launch of the Seneca Managed Storage EIS Fund.

Created to give investors the opportunity to invest in the managed storage sector, and at the same time benefit from EIS tax reliefs, the fund is managed by Seneca Partners, the SME specialist.

Click here to read the full article.

For further information about the fund, please email us or call our team on 020 7071 3926.

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18 Oct 2016

GrowthInvest Relaunches Alternative Investment Platform For Advisers

Professional Adviser posts about the relaunch of Alternative investment platform GrowthInvest, who has refocused its proposition to provide financial advisers with access to tax-efficient investments on a single online platform. The purpose of rebranding and relaunching is to “better reflect the wider range of products and services available” on its platform. Click here to read […]

Professional Adviser posts about the relaunch of Alternative investment platform GrowthInvest, who has refocused its proposition to provide financial advisers with access to tax-efficient investments on a single online platform.

The purpose of rebranding and relaunching is to “better reflect the wider range of products and services available” on its platform.

Click here to read the full article.

To register for their upcoming events, click here.

For further information, please email us or call our team on 020 7071 3945.

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12 Oct 2016

Professional Adviser – Seneca Partners Launches Managed Storage EIS Fund

Seneca Partners are delighted to announce the launch of a new EIS fund; the Seneca Managed Storage EIS Fund.  Seneca Partners director and co-founder Ian Currie says –  “We believe the underlying fundamentals of the managed storage sector, combined with the inherent asset backing of the storage sites has significant appeal…The sector benefits from low […]

Seneca Partners are delighted to announce the launch of a new EIS fund; the Seneca Managed Storage EIS Fund

Seneca Partners director and co-founder Ian Currie says –  “We believe the underlying fundamentals of the managed storage sector, combined with the inherent asset backing of the storage sites has significant appeal…The sector benefits from low fixed operating costs, recurring revenues and low customer concentration and has also enjoyed increasing demand and yields in recent years.”

Click here to read the full article by Professional Adviser.

For more information about the fund, please email our team or call us on 020 7071 3926.

 

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12 Sep 2016

LGBR’s Jack Rose : Is There An IHT Bubble On AIM?

Jack Rose, who is head of our tax products here at LGBR, has written a blog for YourMoney.com, addressing the potential risk of IHT bubbles on the AIM market. This is in response to the fast paced growth and attraction the AIM market has seen, especially for inheritance tax mitigation purposes. Click here to read […]

Jack Rose, who is head of our tax products here at LGBR, has written a blog for YourMoney.com, addressing the potential risk of IHT bubbles on the AIM market. This is in response to the fast paced growth and attraction the AIM market has seen, especially for inheritance tax mitigation purposes.

Click here to read the full blog post

Please click here to more information on our tax products or feel free to call our tax team on 020 3195 7100.

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6 Sep 2016

Unicorn AIM VCT Revealed As Finalist For 2016 Investment Co. Of The Year Awards

We are pleased to announce that the Unicorn AIM VCT has been revealed as a finalist for the 2016 Investment Company of the Year Awards this November. Hosted by Investment Week, the awards will reward excellence in closed-ended fund management, judged by a panel made up of some of the UK’s leading researchers and investors in […]

We are pleased to announce that the Unicorn AIM VCT has been revealed as a finalist for the 2016 Investment Company of the Year Awards this November. Hosted by Investment Week, the awards will reward excellence in closed-ended fund management, judged by a panel made up of some of the UK’s leading researchers and investors in investment trusts and closed-ended companies.

Click here to see the full list of finalists

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5 Aug 2016

3 Year Birthday Of The IHT-Free ISA

Exactly 3 years ago on the 5th August 2013, IHT-free ISAs were introduced, prompting  a significant change in the ISA’s history. We have a number of IHT mitigation products to suit your needs which you can view here. If you have any further questions, please email us or call our tax team on 020 7071 […]

Exactly 3 years ago on the 5th August 2013, IHT-free ISAs were introduced, prompting  a significant change in the ISA’s history.

We have a number of IHT mitigation products to suit your needs which you can view here.

If you have any further questions, please email us or call our tax team on 020 7071 3910.

 

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11 Jul 2016

Why Brexit May Be A Boon For Tax Efficient Products

An article from YourMoney.com has recently explained why Brexit may actually be welcomed by the the tax efficient funds industry. Researchers have shown that changes to trade bodies could allow more capital to flow into small and medium sized businesses, which would result in a boon for the tax-advantaged schemes, job creation and hopefully by extension […]

An article from YourMoney.com has recently explained why Brexit may actually be welcomed by the the tax efficient funds industry. Researchers have shown that changes to trade bodies could allow more capital to flow into small and medium sized businesses, which would result in a boon for the tax-advantaged schemes, job creation and hopefully by extension the UK economy.

Click here to read the whole article

At LGBR, we have several IHT products that can help you avoid this liability which you can check out here.

For further information, email our tax team or call us on 020 3195 7100.

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