Venture Capital Trusts (VCTs) are high-risk investments and you may get back less than invested.
","notes":"","title":"","contentType":null,"key":"da526787-844e-434d-a14e-3f3eee3464bc","id":5379,"name":"29. VCTs (Short)","urlSegment":"29-vcts-short","sortOrder":23,"level":3,"path":"-1,3039,5282,5379","creatorId":-1,"createDate":"2025-01-28T15:33:58Z","writerId":-1,"updateDate":"2025-03-04T10:09:37.15Z","cultures":{"":{"culture":"","name":"29. VCTs (Short)","urlSegment":"29-vcts-short","date":"2025-01-28T15:33:58Z"}},"itemType":2,"parent":{"contentType":null,"key":"0ed2e80c-238d-4987-809c-90f617cb611d","id":5282,"name":"Risk Warnings","urlSegment":"risk-warnings","sortOrder":2,"level":2,"path":"-1,3039,5282","creatorId":-1,"createDate":"2024-11-13T15:36:27Z","writerId":-1,"updateDate":"2024-11-19T13:53:56.6Z","cultures":{"":{"culture":"","name":"Risk Warnings","urlSegment":"risk-warnings","date":"2024-11-13T15:36:27Z"}},"itemType":2,"parent":{"contentType":null,"key":"351bc456-be72-459b-a1fe-e9bc58c76472","id":3039,"name":"Repos","urlSegment":"repos","sortOrder":3,"level":1,"path":"-1,3039","creatorId":-1,"createDate":"2024-03-13T10:54:19Z","writerId":-1,"updateDate":"2024-04-18T14:27:21.313Z","cultures":{"":{"culture":"","name":"Repos","urlSegment":"repos","date":"2024-03-13T10:54:19Z"}},"itemType":2,"children":[{"contentType":null,"key":"383af845-1c71-44b9-b9b1-9c8ac0264491","id":3040,"name":"Modals","urlSegment":"modals","sortOrder":0,"level":2,"path":"-1,3039,3040","creatorId":-1,"createDate":"2024-03-13T10:54:32Z","writerId":-1,"updateDate":"2024-04-18T14:27:22.157Z","cultures":{"":{"culture":"","name":"Modals","urlSegment":"modals","date":"2024-03-13T10:54:32Z"}},"itemType":2,"children":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"childrenForAllCultures":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"properties":null}],"childrenForAllCultures":[{"contentType":null,"key":"383af845-1c71-44b9-b9b1-9c8ac0264491","id":3040,"name":"Modals","urlSegment":"modals","sortOrder":0,"level":2,"path":"-1,3039,3040","creatorId":-1,"createDate":"2024-03-13T10:54:32Z","writerId":-1,"updateDate":"2024-04-18T14:27:22.157Z","cultures":{"":{"culture":"","name":"Modals","urlSegment":"modals","date":"2024-03-13T10:54:32Z"}},"itemType":2,"children":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"childrenForAllCultures":[{"modalWidth":500,"text":"Modal body text
","contentType":null,"key":"94cdc483-7832-491b-9450-b1b126bbb866","id":3041,"name":"First Modal","urlSegment":"first-modal","sortOrder":0,"level":3,"path":"-1,3039,3040,3041","creatorId":-1,"createDate":"2024-03-13T10:55:08Z","writerId":2,"updateDate":"2025-05-16T09:22:26.523Z","cultures":{"":{"culture":"","name":"First Modal","urlSegment":"first-modal","date":"2024-03-13T10:55:08Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null}],"properties":null}],"properties":null},"children":[{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
","notes":"","title":"","contentType":null,"key":"e3d0402d-d19e-40a9-aa67-f4d859c9f63d","id":5283,"name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","sortOrder":1,"level":3,"path":"-1,3039,5282,5283","creatorId":-1,"createDate":"2024-11-13T17:21:02Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.087Z","cultures":{"":{"culture":"","name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","date":"2024-11-13T17:21:02Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The specific securities identified and described are for informational purposes only and do not represent recommendations.
","notes":"","title":"","contentType":null,"key":"a61b2ca9-4e47-45c0-9f88-b37bd14c50ad","id":5284,"name":"9. Specific securities","urlSegment":"9-specific-securities","sortOrder":2,"level":3,"path":"-1,3039,5282,5284","creatorId":-1,"createDate":"2024-11-14T10:25:23Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.29Z","cultures":{"":{"culture":"","name":"9. Specific securities","urlSegment":"9-specific-securities","date":"2024-11-14T10:25:23Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you. The Best SIPP is designed for people looking to invest at least £10,000 through any combination of one-off investments, regular contributions or transfers from other providers, over a short time frame.
","notes":"","title":"","contentType":null,"key":"7e27a9a5-560f-43ff-9a3d-2aae0cbfff00","id":5287,"name":"16. Sipps","urlSegment":"16-sipps","sortOrder":5,"level":3,"path":"-1,3039,5282,5287","creatorId":-1,"createDate":"2024-11-15T16:22:15Z","writerId":-1,"updateDate":"2025-02-03T10:55:30.657Z","cultures":{"":{"culture":"","name":"16. Sipps","urlSegment":"16-sipps","date":"2024-11-15T16:22:15Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Transfer considerations. Transfers should only be considered for pensions which do not offer any guaranteed or safeguarded benefits - not final salary or defined benefit schemes or pensions that offer particular annuity rates and other promises. You should ensure that by transferring you are not incurring unnecessary penalties, losing any benefits or features, and have considered any increase in pension charges.
","notes":"","title":"","contentType":null,"key":"ef005e57-13ee-4235-b529-6f516f67dff5","id":5288,"name":"15. Transfers","urlSegment":"15-transfers","sortOrder":6,"level":3,"path":"-1,3039,5282,5288","creatorId":-1,"createDate":"2024-11-15T16:30:51Z","writerId":-1,"updateDate":"2024-11-19T13:53:58.383Z","cultures":{"":{"culture":"","name":"15. Transfers","urlSegment":"15-transfers","date":"2024-11-15T16:30:51Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
\nTax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"cb98df25-73ed-4559-9947-d1b5ca6d169f","id":5289,"name":"4. Value and Tax","urlSegment":"4-value-and-tax","sortOrder":7,"level":3,"path":"-1,3039,5282,5289","creatorId":-1,"createDate":"2024-11-18T12:34:21Z","writerId":-1,"updateDate":"2024-11-27T15:39:16.84Z","cultures":{"":{"culture":"","name":"4. Value and Tax","urlSegment":"4-value-and-tax","date":"2024-11-18T12:34:21Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"As with all stock market investments the value of the Junior ISA can fall as well as rise and you may get back less than has been paid in.
Tax treatment depends on individual circumstances and may be subject to change in the future.
With pension investment, both the money you invest and the income from it can fall in value.
Before transferring, see Transfer considerations.
The value of investments can fall as well as rise and that you may not get back the amount you originally invested.
\nNothing in these briefings is intended to constitute advice or a recommendation and you should not take any investment decision based on their content.
\nAny opinions expressed may change or have already changed.
","notes":"","title":"","contentType":null,"key":"8e5ca4b2-4f3d-4f21-87ef-773fb88b2d56","id":5292,"name":"5. Professional advice","urlSegment":"5-professional-advice","sortOrder":10,"level":3,"path":"-1,3039,5282,5292","creatorId":-1,"createDate":"2024-11-19T14:48:27Z","writerId":-1,"updateDate":"2024-12-27T09:35:39.857Z","cultures":{"":{"culture":"","name":"5. Professional advice","urlSegment":"5-professional-advice","date":"2024-11-19T14:48:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Past performance is not a reliable indicator of future results. View full risk warning.
","notes":"","title":"","contentType":null,"key":"6d90fc31-9d2a-43ea-be14-cbb782b0d88c","id":5293,"name":"6. Full risk link","urlSegment":"6-full-risk-link","sortOrder":11,"level":3,"path":"-1,3039,5282,5293","creatorId":-1,"createDate":"2024-11-19T14:50:00Z","writerId":-1,"updateDate":"2025-03-04T14:44:19.81Z","cultures":{"":{"culture":"","name":"6. Full risk link","urlSegment":"6-full-risk-link","date":"2024-11-19T14:50:00Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Before transferring, see Transfer considerations.
","notes":"","title":"","contentType":null,"key":"b0f77c3b-ed35-490e-a324-94a0929c4e63","id":5314,"name":"1. Transfer notice","urlSegment":"1-transfer-notice","sortOrder":12,"level":3,"path":"-1,3039,5282,5314","creatorId":-1,"createDate":"2024-11-20T12:26:52Z","writerId":-1,"updateDate":"2024-11-20T12:27:04.63Z","cultures":{"":{"culture":"","name":"1. Transfer notice","urlSegment":"1-transfer-notice","date":"2024-11-20T12:26:52Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"694047db-9565-48fe-89cb-948cb96431fa","id":5455,"name":"27. Tax","urlSegment":"27-tax","sortOrder":13,"level":3,"path":"-1,3039,5282,5455","creatorId":2,"createDate":"2024-11-27T11:18:40Z","writerId":2,"updateDate":"2025-07-01T11:37:26.693Z","cultures":{"":{"culture":"","name":"27. Tax","urlSegment":"27-tax","date":"2024-11-27T11:18:40Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Past performance is not a reliable indicator of future results.
ETFs can be high risk and complex and may not be suitable for retail investors, so you should make sure you understand all the risks involved before investing.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
The value of a pension can go down as well as up – and you could get less than the amount that's been put in.
You should consider charges, investment choices and any valuable benefits that could be lost before combining any pensions.
The decision to access your pension is an important one and will affect your income and possibly your standard of living for years to come.
Therefore we recommend that before any decision is made you receive regulated financial advice or get free guidance from Pension Wise.
Pensions are long-term investments. You may get back less than you originally paid in because your capital is not guaranteed and charges may apply.
","notes":"","title":"","contentType":null,"key":"fa9a27d7-45d7-4318-b03a-41ad577dadd8","id":5321,"name":"21. Long term","urlSegment":"21-long-term","sortOrder":18,"level":3,"path":"-1,3039,5282,5321","creatorId":-1,"createDate":"2024-11-29T16:56:27Z","writerId":-1,"updateDate":"2024-11-29T16:56:37.853Z","cultures":{"":{"culture":"","name":"21. Long term","urlSegment":"21-long-term","date":"2024-11-29T16:56:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Income drawdown is complex and not suitable for everyone. Your pension remains invested so your income will be affected by the value and performance of underlying assets which may fall; make sure you understand the risks and costs before you go ahead.
","notes":"","title":"","contentType":null,"key":"65982c9d-78b6-4d4d-96d5-47fc3591ea1c","id":5322,"name":"22. Income drawdown","urlSegment":"22-income-drawdown","sortOrder":19,"level":3,"path":"-1,3039,5282,5322","creatorId":-1,"createDate":"2024-11-29T16:57:54Z","writerId":-1,"updateDate":"2024-11-29T16:58:02.393Z","cultures":{"":{"culture":"","name":"22. Income drawdown","urlSegment":"22-income-drawdown","date":"2024-11-29T16:57:54Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you.
Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief.
Tax reliefs depend on individual circumstances and may change. They may be difficult to sell at a price close to the value of the underlying assets or at the time of your choosing. They should only form a small part of an investor’s portfolio.
You should read the relevant prospectus before making any decisions.
The information and guidance provided by the coaches is not regulated by the Financial Conduct Authority.
","notes":"","title":"","contentType":null,"key":"e427eb8c-de84-4e4f-81f7-8be7d22376fc","id":5331,"name":"28. Coaches","urlSegment":"28-coaches","sortOrder":22,"level":3,"path":"-1,3039,5282,5331","creatorId":-1,"createDate":"2024-12-09T11:45:13Z","writerId":-1,"updateDate":"2024-12-09T11:45:23.713Z","cultures":{"":{"culture":"","name":"28. Coaches","urlSegment":"28-coaches","date":"2024-12-09T11:45:13Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief. The value of investments can fall as well as rise and you may get back less than invested.
\nVCTs should only be considered by experienced investors once other financial planning solutions have been fully explored and should only form a small part of your portfolio.
With pension investment, both the money you invest and the income from it can fall in value.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
","notes":"","title":"","contentType":null,"key":"e3d0402d-d19e-40a9-aa67-f4d859c9f63d","id":5283,"name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","sortOrder":1,"level":3,"path":"-1,3039,5282,5283","creatorId":-1,"createDate":"2024-11-13T17:21:02Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.087Z","cultures":{"":{"culture":"","name":"3. Value of your investments","urlSegment":"3-value-of-your-investments","date":"2024-11-13T17:21:02Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The specific securities identified and described are for informational purposes only and do not represent recommendations.
","notes":"","title":"","contentType":null,"key":"a61b2ca9-4e47-45c0-9f88-b37bd14c50ad","id":5284,"name":"9. Specific securities","urlSegment":"9-specific-securities","sortOrder":2,"level":3,"path":"-1,3039,5282,5284","creatorId":-1,"createDate":"2024-11-14T10:25:23Z","writerId":-1,"updateDate":"2024-11-19T13:53:57.29Z","cultures":{"":{"culture":"","name":"9. Specific securities","urlSegment":"9-specific-securities","date":"2024-11-14T10:25:23Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you. The Best SIPP is designed for people looking to invest at least £10,000 through any combination of one-off investments, regular contributions or transfers from other providers, over a short time frame.
","notes":"","title":"","contentType":null,"key":"7e27a9a5-560f-43ff-9a3d-2aae0cbfff00","id":5287,"name":"16. Sipps","urlSegment":"16-sipps","sortOrder":5,"level":3,"path":"-1,3039,5282,5287","creatorId":-1,"createDate":"2024-11-15T16:22:15Z","writerId":-1,"updateDate":"2025-02-03T10:55:30.657Z","cultures":{"":{"culture":"","name":"16. Sipps","urlSegment":"16-sipps","date":"2024-11-15T16:22:15Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Transfer considerations. Transfers should only be considered for pensions which do not offer any guaranteed or safeguarded benefits - not final salary or defined benefit schemes or pensions that offer particular annuity rates and other promises. You should ensure that by transferring you are not incurring unnecessary penalties, losing any benefits or features, and have considered any increase in pension charges.
","notes":"","title":"","contentType":null,"key":"ef005e57-13ee-4235-b529-6f516f67dff5","id":5288,"name":"15. Transfers","urlSegment":"15-transfers","sortOrder":6,"level":3,"path":"-1,3039,5282,5288","creatorId":-1,"createDate":"2024-11-15T16:30:51Z","writerId":-1,"updateDate":"2024-11-19T13:53:58.383Z","cultures":{"":{"culture":"","name":"15. Transfers","urlSegment":"15-transfers","date":"2024-11-15T16:30:51Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
\nTax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"cb98df25-73ed-4559-9947-d1b5ca6d169f","id":5289,"name":"4. Value and Tax","urlSegment":"4-value-and-tax","sortOrder":7,"level":3,"path":"-1,3039,5282,5289","creatorId":-1,"createDate":"2024-11-18T12:34:21Z","writerId":-1,"updateDate":"2024-11-27T15:39:16.84Z","cultures":{"":{"culture":"","name":"4. Value and Tax","urlSegment":"4-value-and-tax","date":"2024-11-18T12:34:21Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"As with all stock market investments the value of the Junior ISA can fall as well as rise and you may get back less than has been paid in.
Tax treatment depends on individual circumstances and may be subject to change in the future.
With pension investment, both the money you invest and the income from it can fall in value.
Before transferring, see Transfer considerations.
The value of investments can fall as well as rise and that you may not get back the amount you originally invested.
\nNothing in these briefings is intended to constitute advice or a recommendation and you should not take any investment decision based on their content.
\nAny opinions expressed may change or have already changed.
","notes":"","title":"","contentType":null,"key":"8e5ca4b2-4f3d-4f21-87ef-773fb88b2d56","id":5292,"name":"5. Professional advice","urlSegment":"5-professional-advice","sortOrder":10,"level":3,"path":"-1,3039,5282,5292","creatorId":-1,"createDate":"2024-11-19T14:48:27Z","writerId":-1,"updateDate":"2024-12-27T09:35:39.857Z","cultures":{"":{"culture":"","name":"5. Professional advice","urlSegment":"5-professional-advice","date":"2024-11-19T14:48:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Past performance is not a reliable indicator of future results. View full risk warning.
","notes":"","title":"","contentType":null,"key":"6d90fc31-9d2a-43ea-be14-cbb782b0d88c","id":5293,"name":"6. Full risk link","urlSegment":"6-full-risk-link","sortOrder":11,"level":3,"path":"-1,3039,5282,5293","creatorId":-1,"createDate":"2024-11-19T14:50:00Z","writerId":-1,"updateDate":"2025-03-04T14:44:19.81Z","cultures":{"":{"culture":"","name":"6. Full risk link","urlSegment":"6-full-risk-link","date":"2024-11-19T14:50:00Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Before transferring, see Transfer considerations.
","notes":"","title":"","contentType":null,"key":"b0f77c3b-ed35-490e-a324-94a0929c4e63","id":5314,"name":"1. Transfer notice","urlSegment":"1-transfer-notice","sortOrder":12,"level":3,"path":"-1,3039,5282,5314","creatorId":-1,"createDate":"2024-11-20T12:26:52Z","writerId":-1,"updateDate":"2024-11-20T12:27:04.63Z","cultures":{"":{"culture":"","name":"1. Transfer notice","urlSegment":"1-transfer-notice","date":"2024-11-20T12:26:52Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
","notes":"","title":"","contentType":null,"key":"694047db-9565-48fe-89cb-948cb96431fa","id":5455,"name":"27. Tax","urlSegment":"27-tax","sortOrder":13,"level":3,"path":"-1,3039,5282,5455","creatorId":2,"createDate":"2024-11-27T11:18:40Z","writerId":2,"updateDate":"2025-07-01T11:37:26.693Z","cultures":{"":{"culture":"","name":"27. Tax","urlSegment":"27-tax","date":"2024-11-27T11:18:40Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Past performance is not a reliable indicator of future results.
ETFs can be high risk and complex and may not be suitable for retail investors, so you should make sure you understand all the risks involved before investing.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
The value of a pension can go down as well as up – and you could get less than the amount that's been put in.
You should consider charges, investment choices and any valuable benefits that could be lost before combining any pensions.
The decision to access your pension is an important one and will affect your income and possibly your standard of living for years to come.
Therefore we recommend that before any decision is made you receive regulated financial advice or get free guidance from Pension Wise.
Pensions are long-term investments. You may get back less than you originally paid in because your capital is not guaranteed and charges may apply.
","notes":"","title":"","contentType":null,"key":"fa9a27d7-45d7-4318-b03a-41ad577dadd8","id":5321,"name":"21. Long term","urlSegment":"21-long-term","sortOrder":18,"level":3,"path":"-1,3039,5282,5321","creatorId":-1,"createDate":"2024-11-29T16:56:27Z","writerId":-1,"updateDate":"2024-11-29T16:56:37.853Z","cultures":{"":{"culture":"","name":"21. Long term","urlSegment":"21-long-term","date":"2024-11-29T16:56:27Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"Income drawdown is complex and not suitable for everyone. Your pension remains invested so your income will be affected by the value and performance of underlying assets which may fall; make sure you understand the risks and costs before you go ahead.
","notes":"","title":"","contentType":null,"key":"65982c9d-78b6-4d4d-96d5-47fc3591ea1c","id":5322,"name":"22. Income drawdown","urlSegment":"22-income-drawdown","sortOrder":19,"level":3,"path":"-1,3039,5282,5322","creatorId":-1,"createDate":"2024-11-29T16:57:54Z","writerId":-1,"updateDate":"2024-11-29T16:58:02.393Z","cultures":{"":{"culture":"","name":"22. Income drawdown","urlSegment":"22-income-drawdown","date":"2024-11-29T16:57:54Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"SIPPs are not suitable for everyone as they may be more expensive than other types of pensions. They may not be right for you if you don’t want to invest across different asset classes or don’t think you will make use of the investment choices available to you.
Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief.
Tax reliefs depend on individual circumstances and may change. They may be difficult to sell at a price close to the value of the underlying assets or at the time of your choosing. They should only form a small part of an investor’s portfolio.
You should read the relevant prospectus before making any decisions.
The information and guidance provided by the coaches is not regulated by the Financial Conduct Authority.
","notes":"","title":"","contentType":null,"key":"e427eb8c-de84-4e4f-81f7-8be7d22376fc","id":5331,"name":"28. Coaches","urlSegment":"28-coaches","sortOrder":22,"level":3,"path":"-1,3039,5282,5331","creatorId":-1,"createDate":"2024-12-09T11:45:13Z","writerId":-1,"updateDate":"2024-12-09T11:45:23.713Z","cultures":{"":{"culture":"","name":"28. Coaches","urlSegment":"28-coaches","date":"2024-12-09T11:45:13Z"}},"itemType":2,"children":[],"childrenForAllCultures":[],"properties":null},{"body":"VCTs are higher-risk investments designed for UK resident taxpayers with an investment time horizon of greater than 5 years, which is the minimum holding period to qualify for income tax relief. The value of investments can fall as well as rise and you may get back less than invested.
\nVCTs should only be considered by experienced investors once other financial planning solutions have been fully explored and should only form a small part of your portfolio.
With pension investment, both the money you invest and the income from it can fall in value.
VCTs (Venture Capital Trusts) are investment companies that are listed on the London Stock Exchange and set up to invest in small UK businesses that meet certain criteria. To encourage support for these businesses the Government offers generous tax benefits for VCT investing. This also reflects the higher-risk nature of the companies they invest in.
","contentType":null,"key":"e496fb50-6550-4d94-ad30-d11944c91e7a","properties":null},"settings":{"purpleBlockStyle":true,"contentType":null,"key":"c32eeb01-4394-4bcf-8af1-0d905677f333","properties":null},"blockType":"fullTextBlock"},{"content":{"text":"Investors should not rely on VCTs to provide an income.
\nThe value of VCTs, and any dividends derived from them, can fall to zero.
\nVCTs are designed for UK resident taxpayers. You must remain invested for at least five years to keep the tax credit, so VCT shares are also long-term investments.
\nVCTs may be difficult to sell at a price close to the value of the underlying assets or at the time of your choosing.
\nBecause of the risks involved, VCTs should only be considered by experienced investors once other financial planning solutions have been fully explored and should only form a small part of your overall investment portfolio.
\nYou should only subscribe for new VCT shares based on the relevant prospectus and must carefully consider the risk warnings contained in that prospectus.
","contentType":null,"key":"2f90c08a-58f7-4ade-9dd2-6c136c073442","properties":null},"settings":{"purpleBlockStyle":true,"contentType":null,"key":"b38d564f-7e53-45c1-88ed-e0d7b453528c","properties":null},"blockType":"fullTextBlock"},{"content":{"text":"Venture Capital Trusts invest in early-stage businesses that are either unquoted or listed on AIM (the London Stock Exchange’s market for growth companies). These businesses need investment to grow and scale-up. They can potentially give you a high return, but they can also be much riskier than larger, more established companies as they can be more susceptible to economic and commercial headwinds.
","contentType":null,"key":"e6b5b795-9ee3-42ed-906c-e65766f7f2bb","properties":null},"settings":{"purpleBlockStyle":true,"contentType":null,"key":"2c4eec48-c04a-4a1c-b2be-e835ebaa992a","properties":null},"blockType":"fullTextBlock"},{"content":{"text":"Small businesses need investment to grow – potentially giving investors a high return but with more risk.","contentType":null,"key":"cef34b61-21ee-497d-b7e0-be3d53a9b976","properties":null},"settings":{"purpleBlockStyle":false,"contentType":null,"key":"e3778760-3aa6-4659-b489-3b813bdb5aea","properties":null},"blockType":"quoteBlock"},{"content":{"text":"There are strict rules on which companies are eligible for VCT investment. Each VCT will typically hold 20-70 of these companies, depending on the investment strategy and how long it has been running.
\nVCTs offer several tax benefits to encourage investment into higher-risk companies. These tax benefits make VCTs popular among higher and additional-rate taxpayers – but remember, tax treatment depends on individual circumstances and is subject to change.
\n| Tax year(s) | \nIncome tax credit | \nMinimum holding period | \nCapital gains tax deferral? | \n
| 1995/96 - 2000/01 | \n20% | \n5 years | \nYes | \n
| 2001/02 - 2003/04 | \n20% | \n3 years | \nYes | \n
| 2004/05 - 2005/06 | \n40% | \n3 years | \nNo | \n
| 2006/07 - present | \n30% | \n5 years | \nNo | \n
There are a variety of strategies to be found on the VCT market. They all invest in smaller companies and give you tax relief, but they are different in their approaches to managing risk and reward.
\nMost Venture Capital Trusts are Generalist VCTs. These typically invest in unquoted companies across a range of sectors, although some VCTs will also hold AIM-listed shares. Generalist VCTs will often specialise in particular sectors such as engineering, software, business services, or consumer goods and services.
\nInvestments are usually made through a combination of ordinary equity and preference shares and may contain an element of loan notes.
\nVCT management teams often place directors on the boards of the unquoted companies they invest in. They monitor the investment and guide the business to an eventual exit – often a sale to private equity or a trade buyer, but sometimes a stock market listing.
\nAIM VCTs focus on companies that are listed on AIM – the London Stock Exchange’s market for smaller growth companies. Their management teams usually have a background in fund management rather than private equity investment. Unlike Generalist VCTs, investments are normally made through ordinary shares. AIM VCTs do not seek board representation and can only influence their portfolio companies through voting at shareholder meetings.
\nAIM VCTs are more volatile than Generalist VCTs because the shares of the AIM-traded portfolio companies are priced daily whereas unquoted companies are valued periodically.
\nAIM VCTs do have more liquidity because the shares of their portfolio companies are more easily sold on the market – unlike the holdings in a Generalist VCT.
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