IHTM18302 - Stocks and shares: BES/EIS/VCT/EZ/Property Enterprise Trust: identifying investments in the schemes
It will usually say in any valuation included with the form IHT400 (IHTM10021) that an investment in one of these schemes is an asset of the estate. The following pointers may also help you to identify investments in these schemes
- the description of the fund or scheme suggests that it is one of a succession of funds, such as 바카라 사이트˜Alpha바카라 사이트™ Fund or 바카라 사이트˜Second바카라 사이트™ Basildon Fund or 바카라 사이트˜Fifth바카라 사이트™ Fund Lazard Development Capital;
- the words 바카라 사이트˜Venture바카라 사이트™, 바카라 사이트˜Enterprise Investment바카라 사이트™ or 바카라 사이트˜Business Start-Up바카라 사이트™ or 바카라 사이트˜Business Expansion바카라 사이트™ appear in the fund or scheme바카라 사이트™s name:
- there are a number of smallish holdings in unlisted companies declared in the estate (between 5 and 20 is normal).
If the investment is a Venture Capital Trust (VCT) you can find its value in the normal way from the London Stock Exchange, or other, listings (IHTM18092). As VCTs are listed they do not qualify for business relief (IHTM25131).
If the investment is in a Business Expansion Scheme (BES), Enterprise Investment Scheme (EIS), Enterprise Zone (EZ) or Property Enterprise Trust refer the valuation to Shares and Assets Valuation if the tax involved is substantial or if business relief has been claimed.