EIS, VCT, SEIS Flashcards Preview

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Flashcards in EIS, VCT, SEIS Deck (7)
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1

What is the maximum tax relief, plus the maximum investment into a EIS?

30% tax relief up to £1m. Can also carry back one year so you can invest £2m if not invested in previous tax year

2

How long do you have to hold EIS shares for there to be no CGT?

3 years

3

What is different with an eis compared to a VCT/SEIS

You can use the gain from another investment and put it in an EIS to defer the gain. This is useful if you are a higher rate tax payer and know you will be a basic rate tax payer in the future

4

What income tax do you receive on an SEIS and how much can you put in

50% income tax relief up to £100k you can also carry back for one year if allowance not used so £200k in total

5

Explain the SEIS CGT reliefs

No CGT payable if held for 3 years

50% capital gains reinvestment relief

You could reduce the CGT on gains made elsewhere by up to 50%. To benefit, you must have had the income tax relief in the same year.

6

How long do you have to hold VCTs for to avoid CGT

No minimum holding period

7

Out of EIS, VCT and SEIS, which one offers tax free dividends

VCT