9. Tax Wrappers

Question 1

3x Types of ISA

Answer 1

1. Stocks and shares
2. Cash
3. Innovative finance

Question 2

Help to Buy ISA

Answer 2

First deposit £1,200
Monthly £1 - £200

Min bonus£400 Max £3,000

Question 3

Lifetime ISA

Answer 3

25% bonus
Max £4,000 saved a year
First home or rtirement

Question 4

VCT Venture capital trusts

Answer 4

shares listed on stock exchange, run by investment manager

30% ta relief given on up to £200,000
Dividends are tax free up to £200,000
Approved by HMRC

Question 5

Enterprise Investment scheme EIS

Answer 5

shares listed on stock exchange, run by investment manager

30% ta relief given on up to £100,000,000
CGT can be deferred exempt if held for 3+ years
Approved by HMRC

Question 6

What is an additional permitted subscription (APS)?

Answer 6

allows the surviving spouse/civil partner to make an additional ISA subscription to the value

applied for 3 years from the date that the person died, or 180 days after administration of the estate is complete.