Close Inheritance Tax Service (CITS)

Designed for use by professional financial intermediaries

You will find all the current CITS information, latest fund manager views and all the literature available to download on this site. Due to the high risk nature of this service, it is only available through a qualified financial adviser.

Inheritance Tax (IHT) has been called the 'voluntary tax'. According to the HMRC, the total IHT paid in 2017/2018 tax year was more than £5.5 billion*. Sound financial planning could have diverted much of this to loved ones instead of the taxman.

CITS is a specialist, discretionary investment management service designed to provide accelerated relief from IHT by investing in BPR qualifying shares quoted on the Alternative Investment Market (AIM) and the NEX Exchange Growth Market.

Providing each investment in the portfolio has been held for two years at death, all the capital invested and any growth, qualifies for BPR and therefore is not subject to IHT.

CITS is one of the longest running AIM-based IHT services with a successful track record. Since its launch in March 2001, it has proved effective in protecting the value of clients’ estates from IHT.

CITS has features that could help your clients’ resolve some of the issues they may face when considering traditional IHT solutions:
  • The amount invested falls out of their estate after as little as two years;
  • No loss of control or ownership of the clients’ assets;
  • No costly legal structures to establish or maintain;
  • Can be chosen by persons acting under a power of attorney as an investment-based solution; and
  • Assets can be held in an ISA wrapper to provide further tax efficiency; and
  • BPR assets that have accrued a two year holding period can be gifted in to discretionary trusts without being considered a Chargeable Lifetime Transfer.

Can we help?

If you would like to speak to someone directly or have any questions, please give us a call on:

01606 810325

Or alternatively, use our online contact form and one of our team will be in touch.

Arrange a call back

What is CITS?

  • 08 Oct
  • 8 minute watch

Hear more about our Inheritance Tax service from Sam Barton, Investment Director.

Watch video

Important information

The service is not a capital protection service and your capital is at risk. The service is dependent on relevant tax legislation remaining in force. For a fuller disclosure of the risks your adviser should ask you to read the Close Brothers Asset Management Terms and Conditions and CITS application form.

*HMRC Annual Report and Accounts 2017-18

 

     

Our Close Inheritance Tax Service (CITS) won Best AIM Portfolio Service at the 2018 Growth Investor Awards.

 

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Investment process

Details of the investment universe, and how we build and manage CITS portfolios.

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Portfolio characteristics

The sector split for the most recently fully invested CITS series.

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Fund manager commentary

The latest on the market from the CITS team.

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Fees and service

Details of the service including; minimum investment, valuations and charges.

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Literature

Download the documents relating to CITS.

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Contact us

Contact details for the CITS service and our regional Business Development Directors.

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Please be aware, the value of investments can fall as well as rise and that past performance is not a reliable indicator of future returns and you could get back less than invested. Click here to understand the risks associated with investing. Calls to any number may be recorded for training and monitoring purposes. This site uses Cookies.