We only have one model portfolio for doing this service and our key objective is to try to derisk as much as possible what is a very high risk product.
Inheritance Tax relief portfolios are not a collective investment, they are bespoke discretionary portfolios arranged for each individual investor.
“What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.” Mark Twain.
THE TAX BENEFITS
Investment in the Midas IHT relief portfolio aims (but does not guarantee) to have an important tax benefit: up to 100 per cent relief from Inheritance Tax (“IHT”) via Business Property Relief, if investments held for two years.
Business Property Relief was introduced in the 1976 Finance Act. The 1996 Finance Act amended the provisions making it significantly more attractive to private investors concerned about potential inheritance tax liabilities. Under the amended rules any qualifying investments held for two years or more at the date of death will benefit from up to 100 per cent business property relief, i.e. their value will effectively be disregarded for inheritance tax purposes on any transfer of shares. This means that, after two years of holding an IHT relief portfolio, the value of these investments may be excluded from any IHT computation.
In addition to Business Property relief, the shares may also qualify for accelerated Business Asset Taper relief. This means that the effective CGT rate payable falls to 10 per cent after two years.
“My friend, when life’s toil has sapped your youth, your immortality is but your generous legacy. Guard it well from the tax man.” Anonymous.
Midas will invest your portfolios on a discretionary basis, in a selection of AIM and/or ISDX companies which qualify for Inheritance Tax relief and which we also view as attractive investments.
Note that we will intend to hold any investment for more than two years but if we feel the risk of loss outweighs the risk of tax consequences then we will sell down your investment and reinvest it in another qualifying security Download our Inheritance Tax Relief Portfolio Brochure.).
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