Venture Capital Trusts (VCTs) are companies whose shares are listed on the London Stock Exchange and provide investors with the opportunity to invest larger sums of money and enjoy a number of potentially generous tax benefits. AiM VCTs invest primarily in companies that are listed on the Alternative Investment Market of the London Stock Exchange, and to a lesser extent unquoted companies and companies traded on OFEX, the market which allows share dealing in unquoted companies and unlisted securities. VCTs provide investors with the opportunity to participate in the appreciation of a portfolio of small, growth orientated companies.

For individuals investing in a Venture Capital Trust, the tax benefits currently available include, 40% income tax relief on investments of up to £200,000 per tax year (for 2004/05 and 2005/06 tax years), tax free distributions of income and capital and no capital gains tax on the disposal of VCT shares. A condition for receiving income tax relief is that the VCT shares must be held for at least three years.*

*The above reflects Artemis’ understanding of the tax benefits regarding investment in VCTs and does not in any way constitute investment or tax advice. The value of reliefs depends on individual circumstances and we recommend you consult with your financial or other professional adviser before making any investment in a VCT.