Should you 投資する in a VCT?

By DAILY MAIL REPORTER
Updated: 10:10 BST, 29 January 2007

?

投機・賭ける 資本／首都 信用s (VCTs) may be too adventurous for some, but for those 用意が出来ている to take the 危険, there are plenty on 申し込む／申し出 as the end of the 税金 year approaches.

目的（とする）d at 豊富な 投資家s who already have balanced 大臣の地位s, VCTs are companies that typically, 投資する in about 12 others. These must have 資産s of no more than £7m.

There lies the danger: small 会社／堅いs are risky and many quickly go to the 塀で囲む. As a VCT will 投資する in a 選択 of start-ups, the 危険 is diluted, but you should still 演習 警告を与える. In return for the 危険, 投資家s get 税金 救済 - pared 支援する in last year's 予算 from 40% to 30%. An 投資家 putting in £10,000 can, through their 税金 return or PAYE, 埋め立てる £3,000 making the real cost £7,000.

Those minded to go large can put up to £200,000 into VCTs each 税金 year (ending April 5). You get the 救済 only if you buy a VCT at 開始する，打ち上げる. If you sell within five years of buying, you must 支払う／賃金 all the 税金 支援する. You are 保護するd from 資本／首都 伸び（る）s 税金 and 所得税 whenever you sell; （株主への）配当s and 配当s are also 税金 解放する／自由な.

But you should not make 投資 決定／判定勝ち（する）s based on 税金 利益s. The VCT should make sense in its own 権利. Justin Modray of 助言者s Bestinvest says: 'Although 普通の／平均（する） VCT 業績／成果 has been dull, there have been some 勝利者s - Proven Growth & Income has annualised returns of 9% over five years, the 初めの の近くに VCT 8.7% over 10 years. They are the exception rather than the 支配する. It seems to take at least five years before 大臣の地位s are 十分に 円熟した.'

税金 救済 on 購入（する） comes only with a new VCT. The best 手がかり（を与える） to its 業績／成果 is the 跡をつける 記録，記録的な／記録する of 基金s from the same 経営者／支配人s. As second-手渡す VCT 株 do not qualify for 税金 救済, you might have problems selling.

にもかかわらず the 危険s, no VCTs have gone under since they were 開始する，打ち上げるd in 1995, though some 開始する，打ち上げるd around 2001 to buy 科学（工学）技術 companies still look dismal.

Much of the return comes from （株主への）配当s or 配当s. You hope to get your 資本／首都 支援する when you sell your 株 - though there are no 保証（人）s, unless the 信用's 経営者／支配人s have 誓約（する）d to buy them 支援する. You may have to sell at いっそう少なく than the value of the 信用's 資産s. But if the VCT has done 井戸／弁護士席, you could get a 資本／首都 伸び（る） on 最高の，を越す of （株主への）配当s.

Matthew Woodbridge at 助言者 Chelsea 財政上の Services says: 'In 2001, Proven VCT bought into data company 合併 示す ts, which was taken over by Pearson. Proven made 14 times its money, and 株主s got a 50p （株主への）配当.'

Sixteen VCTs are 現在／一般に on 申し込む／申し出 and all are still undersubscribed. Of the general 信用s, Woodbridge likes の近くに Brothers 企業 because of the experience of its 管理／経営; Matrix Income & Growth 4, which 支援するs 管理／経営 buyouts (いっそう少なく risky than start-ups); and 負かす／撃墜するing 保護するd, which 約束s to 勝利，勝つd up in seven years and 投資するs in companies with some 支援する-up, such as their own 所有物／資産／財産.