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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.

4 Nov 2015

FT Adviser on Unicorn and WM Capital’s AIM IHT Launch

FT Adviser announces Unicorn Asset Management (Unicorn) and WM Capital Management’s (WM) new AIM IHT Portfolio Service, where WM will be the service’s discretionary fund manager and Unicorn as the investment adviser. Chris Hutchinson, director of Unicorn Asset Management, said: “Unicorn specialises in AIM and small cap investing. We manage the largest AIM-focused VCT in the […]

FT Adviser announces Unicorn Asset Management (Unicorn) and WM Capital Management’s (WM) new AIM IHT Portfolio Service, where WM will be the service’s discretionary fund manager and Unicorn as the investment adviser.

Chris Hutchinson, director of Unicorn Asset Management, said: “Unicorn specialises in AIM and small cap investing. We manage the largest AIM-focused VCT in the market and over a quarter of our AUM is invested in the AIM space”.

Click here to read the whole article

Click here to find out more about Unicorn’s range of funds

For more information please email LGBR Capital or call 020 3195 7100

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3 Nov 2015

Professional Adviser Presents the New Unicorn AIM IHT Service

Unicorn Asset Management and WM Capital Management have teamed up to launch their latest investment service,  designed to provide inheritance tax (IHT) exemption to their investors. The service will also offer both an Income and Growth portfolio option whilst investing into a ‘diversified’ portfolio of 25 to 40 AIM stocks, of which must be BPR […]

Unicorn Asset Management and WM Capital Management have teamed up to launch their latest investment service,  designed to provide inheritance tax (IHT) exemption to their investors. The service will also offer both an Income and Growth portfolio option whilst investing into a ‘diversified’ portfolio of 25 to 40 AIM stocks, of which must be BPR and ISA qualifying.

Click here to read the whole article

Click here to find out more about Unicorn’s range of funds

For more information please email LGBR Capital or call 020 3195 7100

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2 Nov 2015

Portfolio Adviser introduces the Unicorn AIM IHT Portfolio Service

Unicorn and WM Capital Management’s latest launch of their AIM IHT Portfolio Service has been announced on Portfolio Adviser’s website in a short article. Click here to read the whole article Click here to find out more about Unicorn’s range of funds For more information please email LGBR Capital or call 020 3195 7100

Unicorn and WM Capital Management’s latest launch of their AIM IHT Portfolio Service has been announced on Portfolio Adviser’s website in a short article.

Click here to read the whole article

Click here to find out more about Unicorn’s range of funds

For more information please email LGBR Capital or call 020 3195 7100

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2 Nov 2015

Press Release for the Unicorn AIM IHT Portfolio Service

**New Launch** Unicorn AIM Inheritance Tax Portfolio Service – offering ISA-qualifying Growth and Income options Unicorn Asset Management (“Unicorn”) have partnered with WM Capital Management Limited (“WM”) to launch the Unicorn AIM Inheritance Tax Portfolio Service (the “Service”). The Service aims to provide IHT exemption to investors, after an initial two year holding period, by […]

**New Launch**

Unicorn AIM Inheritance Tax Portfolio Service – offering ISA-qualifying Growth and Income options

Unicorn Asset Management (“Unicorn”) have partnered with WM Capital Management Limited (“WM”) to launch the Unicorn AIM Inheritance Tax Portfolio Service (the “Service”).

The Service aims to provide IHT exemption to investors, after an initial two year holding period, by investing in a diversified portfolio of 25 to 40 AIM stocks that qualify for Business Property Relief (“BPR”) and which qualify as ISA investments.

WM act as the Discretionary Fund Manager to the Service and are responsible for the day-to-day management. Unicorn are the investment adviser to the Service, using their years of AIM-investment expertise to select portfolios of AIM stocks.

The fact that the Service is ISA-qualifying helps to solve a growing problem: ISAs form part of an investor’s estate for IHT purposes and over six million of the UK’s 22.7m ISA investors are over 65, meaning an ever-increasing number of investors are looking for estate planning solutions within an ISA framework, which the Service offers.

A key differentiator is that the Service offers investors a Growth and an Income portfolio option. The Growth portfolio will re-invest any dividends received to maximise capital growth whilst the Income portfolio will pay out dividends quarterly. The Income portfolio option may be especially appealing to ISA investors, as it will allow them to receive tax-free dividends and capital growth alongside IHT exemption after only two years.

Unicorn has been one of the leading institutional investors in the AIM market since their inception in 2000. It currently manages over £250m in AIM stocks across its range of UK OEICS and its AIM-focused VCT. The same investment team will be employing this robust, proven investment process in the IHT Service.

Chris Hutchinson, Director, Unicorn Asset Management commented; “Unicorn specialise in AIM and small cap investing. We manage the largest AIM-focused VCT in the market and over a quarter of our AUM is invested in the AIM space. Conducting much of our research in house delivers important synergies with AIM investment, where there are opportunities for under-brokered and under-researched companies. We want to maximise these opportunities within the Unicorn AIM IHT Portfolio Service, to provide investors with effective and efficient mitigation of their IHT liabilities without the time lag or complexities of some of the more traditional solutions.”

Unicorn AIM Inheritance Tax Portfolio Service – Key Benefits:

Unicorn’s AIM Expertise – Unicorn specialise in AIM and UK small cap investments, currently managing over £250m in AIM stocks, including their market-leading AIM focused VCT

ISA Qualifying – the twin benefits of tax-free capital growth and income, with IHT exemption after two years

Income Portfolio Option – dividends paid quarterly

Simplicity – no need for complex legal structures or medical underwriting

Speed – once investors have held shares qualifying for BPR for a minimum of two years their value will be exempt from IHT. More traditional forms of IHT planning (such as gifts or trusts) can take up to seven years to reach full exemption

Control – should an investor’s personal or tax circumstances change (for example to pay for care fees) they have access to their investment at all times, unlike trust planning or gifts

This press release does not constitute investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. This press release is not a solicitation, offer or recommendation to acquire or dispose of any investment or to engage in any other transaction. Unicorn Asset Management Ltd is authorised and regulated by the Financial Conduct Authority.

Click here to find out more about Unicorn’s range of funds

For more information please email LGBR Capital or call 020 3195 7100

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27 Oct 2015

Latest Blog By LGBR Capital’s Jack Rose on Tax Efficient Investing

Find a Wealth Manager has recently published an article by Jack Rose, Business Development Director for Tax Products at LGBR Capital on why investors should look at EIS, VCTs and BPR. Click here to view the whole article To find out more about tax efficient investing please click here or call 020 3195 7100.

Find a Wealth Manager has recently published an article by Jack Rose, Business Development Director for Tax Products at LGBR Capital on why investors should look at EIS, VCTs and BPR.

Click here to view the whole article

To find out more about tax efficient investing please click here or call 020 3195 7100.

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20 Oct 2015

Role of VCTs in Portfolios Explained in FT Adviser

FT Adviser publishes an article on the exciting opportunities investor’s can have by incorporating a VCT into one’s portfolio. Jack Rose who is our Business Development Director for our Tax Products contributes to this article by giving his recommendations as well as Chris Hutchinson , manager of Unicorn’s AIM VCT. Click here to view the […]

FT Adviser publishes an article on the exciting opportunities investor’s can have by incorporating a VCT into one’s portfolio. Jack Rose who is our Business Development Director for our Tax Products contributes to this article by giving his recommendations as well as Chris Hutchinson , manager of Unicorn’s AIM VCT.

Click here to view the full article

For more information on the Unicorn AIM VCT and VCT’s in general please click here or call 020 3195 7100.

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20 Oct 2015

FT Adviser Publish Guide to VCT’s

Following recent changes inthe law to VCT’s, FT Adviser have created a guide to examine the variety of VCTs available, how selection processes may be affected by the government’s latest rule changes and whether advisers need to check VCTs they recommended in the past remain suitable today. Manager of the Unicorn AIM VCT, Chris Hutchinson and […]

Following recent changes inthe law to VCT’s, FT Adviser have created a guide to examine the variety of VCTs available, how selection processes may be affected by the government’s latest rule changes and whether advisers need to check VCTs they recommended in the past remain suitable today. Manager of the Unicorn AIM VCT, Chris Hutchinson and Business Development Director for tax products at LGBR Capital have both contributed to the guide.

Click here to view the full article and the guide

For more information on the Unicorn AIM VCT and VCT’s in general please click here or call 020 3195 7100.

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9 Oct 2015

Seneca Partners Wins 2 Awards at the Insider Dealmaker Awards 2015

Seneca Partners is pleased to announce success at the Insider Dealmaker Awards 2015. Seneca Partners sister company, Acceleris Capital, won ‘AIM Deal of the Year’ for it’s work on the flotation of Redx Pharma. Chief Executive Norman Molyneux is pictured above (second from right) accepting the award from the award sponsors, Quilter Cheviot. The judges said, […]

Seneca Partners is pleased to announce success at the Insider Dealmaker Awards 2015.

Seneca Partners sister company, Acceleris Capital, won ‘AIM Deal of the Year’ for it’s work on the flotation of Redx Pharma. Chief Executive Norman Molyneux is pictured above (second from right) accepting the award from the award sponsors, Quilter Cheviot.

The judges said, “RedX Pharma has moved from a great idea into a great business. It’s got huge potential and is a good news story for the North West.”

Seneca experienced further success on the evening with Acceleris Capital’s Simon Thorn (pictured, left) being awarded ‘Young Dealmaker of the Year 2015’. Simon assisted on the Redx IPO and has worked on an impressive portfolio of deals. Simon also actively works with the Seneca EIS Portfolio.

Click here to find out more about Seneca Partners

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6 Oct 2015

Jack Rose Explores The Value of Adding VCTs To Your Portfolio

Jack Rose, our Business Development Director for our Tax Products, writes a clear article on FindAWealthManager.com exploring all about VCTs, the benefits and the role of incorporating one into an investor’s portfolio. “Venture Capital Trusts offer a raft of attractive reliefs which higher-rate taxpayers cannot afford to ignore”  Click here to read the full article […]

Jack Rose, our Business Development Director for our Tax Products, writes a clear article on FindAWealthManager.com exploring all about VCTs, the benefits and the role of incorporating one into an investor’s portfolio.

“Venture Capital Trusts offer a raft of attractive reliefs which higher-rate taxpayers cannot afford to ignore” 

Click here to read the full article

For more information on VCTs please email LGBR Capital or call 020 3195 7100

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29 Sep 2015

EIS – a viable alternative to the uncertain VCT market

Although the full impact of HMRC’s recent VCT rule changes will not become clear until Royal Assent is obtained (expected early November) at this stage it looks likely that VCTs may have to alter (to a greater or lesser degree depending on their investment strategy) how they source and select investments. The most affected would […]

Although the full impact of HMRC’s recent VCT rule changes will not become clear until Royal Assent is obtained (expected early November) at this stage it looks likely that VCTs may have to alter (to a greater or lesser degree depending on their investment strategy) how they source and select investments. The most affected would seem to be those VCTs that concentrate on management buy-outs (MBOs). As a result, we are likely to see fewer VCTs coming out with offers this tax year and many VCTs waiting until after Royal Ascent to make a decision, which means their offers may not open until early 2016.

 

Since 2015/16 looks set to be a shorter VCT season with fewer participants, it would seem highly unlikely that funds raised will reach anywhere close to the £429m raised last year (which was the largest amount raised since 2005/06)*. This is a dilemma for advisers as supply is reducing just at a time when other HMRC rule changes, such as the lifetime cap on pension contributions, has strongly increased client demand for tax-efficient investment products.

 

So until we get clarity on the new VCT rules, what can advisers do in the meantime?

A potential alternative are Enterprise Investment Schemes (EIS). EIS were created by the UK government on a very similar premise to VCTs – to provide funding to UK SME businesses – and, as such, EIS have many of the benefits of VCTs, including: 30% upfront income tax relief (three year minimum holding period for EIS vs. five years for VCTs) and no capital gains upon realisation.

 

EIS also have some added benefits not available to VCTs, including: 100% IHT relief for EIS investments after only two years (through Business Property Relief) and the ability to carry back the 30% income tax relief to the previous tax year from which the investment is made.

 

However, there are differences – most notably the fact that rules surrounding the type and size of companies that qualify for EIS mean that they tend to focus on smaller, riskier companies compared to VCTs. Further differences include the fact that VCTs are listed on the London Stock Exchange whereas EIS are not, meaning a much less liquid and obvious secondary market for EIS. As such, advisers will need to make sure that their clients are suitable for the level of risk associated with EIS investments.

 

What might surprise advisers is that assets into EIS last tax year more than doubled those into VCTs (over £1bn raised**). In such an established market, there is ample choice for advisers looking for a diverse number of EIS propositions, whether by manager or investment strategy. Therefore, for the right client, they can provide advisers with a viable alternative to VCTs during the current rule uncertainty and beyond…

 

* Source: The AIC – http://www.theaic.co.uk/

**Source: National Statistics – HM Revenue & Customs – EIS and SEIS Commentary Note – https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/448308/July_2015_Commentary_EIS_SEIS_Official_Statistics.pdf

 

This communication has been issued by LGBR Capital LLP, Candlewick House, 120 Cannon Street, EC4N 6AS. LGBR Capital LLP is an appointed representative of Mirabella Advisers LLP, which is authorised and regulated by the Financial Conduct Authority. The document is intended to be communicated solely to persons that fall within the FCA Classification of ‘Professional Client’.

This document does not constitute a recommendation, or an offer to buy or sell any security or fund, and is not intended to substitute the offering documents or prospectus of any fund. Venture Capital Trusts (“VCT”), Enterprise Investment Schemes (“EIS”) and IHT mitigation service are relatively complex products with significant performance and liquidity risks. Your capital is at risk if you invest in a VCT, EIS or IHT mitigation service and you may lose some or all of your money invested. Any decision to invest in a VCT, EIS or IHT mitigation service should be made solely by reference to, and strictly in accordance with, the information, terms and conditions contained in the Prospectus and Application Form. Before deciding to invest, investors should carefully consider the product’s investment objectives, risks and expenses and other information as set out in the Prospectus and Application Form.

The statements and opinions set out in this document are made as of the date of publication, and may not be applicable thereafter. Opinions are based on our analysis of data that we believe to be objective and reliable; however we accept no liability in respect of its completeness or accuracy.
Rates of tax, tax benefits and allowances are based on current legislation and HMRC practice and depend on personal circumstance. These may change and are not guaranteed. 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. Prospective investors are advised to consult their own professional advisers before contemplating any investment. No representation or warranty expressed or implied is made or given by any person as to the accuracy or completeness of the information contained in this email and no responsibility or liability is accepted for any such information. This material may not be distributed, published or reproduced in whole or in part.

 

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Disclaimer

In order to view the information on the LightTower Partners website (lighttowerpartners.co.uk) (the “Website”), you must accept the terms and conditions set out below (these “Terms”) and our separate Terms of Use. These Terms create a binding legal agreement between us. For your own protection and benefit, please read these Terms carefully before starting to use this section of the Website. During each visit to this section of the Website, you are responsible for being familiar with, and are bound by, the then current version of these Terms. If you do not agree to these Terms, please refrain from using the Website. By clicking “Accept” below and accessing the information and material available on the Website, you accept these Terms.

IMPORTANT NOTICE: For legal reasons the contents of the Website cannot be made available to US residents. These materials and any products described herein are not being offered or targeted to US persons or to US residents and access by them is prohibited.

This section is only for UK regulated financial advisers, wealth managers and others regulated by the Financial Conduct Authority.
This section is not intended for, and must not be accessed by, investors who would be classified as retail clients under MiFID. If you are in any doubt as to whether you would be deemed to be a ‘professional client’ or ‘eligible counterparty’, please seek professional advice and refrain from accessing this section until such advice has been obtained.

By clicking ‘I accept’ you confirm that you are an FCA authorised financial intermediary, you also confirm that:
(i) you are eligible to access this section of the website and that you are acting on the behalf of your client as their authorised adviser or are seeking information as a representative of an institution;
(ii) you understand that the information contained in this section of the website is provided solely for the use by the advisers of organisations or representatives of such organisations, and not for members of the general public;

I confirm that:

  • I have read and accept the Terms and Conditions of using this Website, detailed above;
  • I am a professional client or eligible counterparty for the purposes of the Conduct of Business Sourcebook of the FCA;
  • I will not make an investment in an Investment Product, or advise another to do so, if the promotion of the Investment Product to the type of investor I represent is prohibited;
  • I recognise that the information provided on this Website is for information purposes only and is not a solicitation of an investment;
  • I will study the Prospectus, KIID or Offering Memorandum of an Investment Product, including the risk factors before making an investment