I’m considering investing money into a venture capital trust (VCT).
I’m aware that I can then claim the 30% income tax rebate.
But if I die within five years and my wife inherits the VCT, would my estate be liable to repay the income tax rebate and would my wife have the shares passed to her intact?
A Which? Money member'Your beneficiaries will inherit a trio of tax perks'
Samm Galloway, Which? money expert, says…Good news: the income tax relief wouldn’t be repayable in this scenario.
Any deferred capital gains will also be extinguished, so your wife would inherit the venture capital trust at the value on the date of death.
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source https://www.which.co.uk/news/article/what-will-happen-to-my-venture-capital-trust-when-i-pass-away-aGBPy8p4Z0EU