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Budget 2021: UK freezes personal tax thresholds until 2026
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US markets are replete with dynamic technology companies; Europe’s are staid and boring. Or so many investors think. But this is not entirely accurate. On the continent, for instance, tech companies now boast a bigger market capitalisation than banks and energy companies.
In Britain, on the other hand, investors seeking burgeoning, earlier stage businesses tend to go for the private firms found in listed portfolios such as the Chrysalis investment trust, which has been a top performer in recent years. However, there is also the long-established venture capital trust (VCT) sector. According to investment services group Wealth Club, these tax-efficient listed funds are increasingly investing in the same kind of fast-growing, valuable companies you’d expect to find in the Chrysalis fund and bigger rivals such as Baillie Gifford’s Scottish Mortgage trust.
More investors are considering start-ups for their potentially strong returns - and a tempting 30 per cent tax break - but the sector says it still needs almost £7billion to reach its potential.
The Enterprise Investment Scheme is a government-led scheme that helps younger, businesses raise finance by offering investors generous tax reliefs, including income tax and capital gains relief and some protection against losses, in return for such high-risk investing.
Alex Davies, chief executive of Wealth Club, a tax-efficient investing platform said demand from investors has been suprisingly strong over the past year, with people choosing to back firms using technology to drive their business.
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