SJP - VCT Guide

The SJP Accreditation Process To provide financial advice on Venture Capital Trusts (VCT) and Enterprise Investment Schemes (EIS) you will need to satisfy the following criteria: √√ You must already hold up to and including the St. James’s Place Diploma in IHT and Estate Planning √√ You will need to complete a single exam for both VCT and EIS before you can be awarded the licence to advise on either product The EIS/VCT accreditation exam is multiple choice made up of single and multiple response questions. It is open book, which means that you can have this study guide and the advice framework to hand during the exam. However, the exam is timed and unless you are familiar with the material you may not have sufficient time to complete the exam. So, open book does not remove the need for prior study. To prepare for and take the EIS/VCT exam, it is recommended that you study the material contained within: √√ This study guide and; √√ The Investment Advice Framework You should also be familiar with the material contained within the following study guides: √√ Generic Taxation √√ Diploma in IHT & Estate Planning - IHT principles Study guide √√ Diploma in Retirement Planning - Making Contributions. After studying this guide and the Investment Advice Framework, you may ask for help from your manager on any areas with which you had difficulty. When you are comfortable with your level of understanding, the last part of the accreditation process is to test your knowledge via the multiple- choice exam. It is open book and is completed online (if you are a new Partner joining St. James’s Place, your manager will arrange your access to the online accreditation system). We recommend that you have a copy of the St. James’s Place tax tables to hand when you sit the exam. You can refer to the examination materials for the pass mark or check with your manager. If you are not successful in the exam, you may retake the exam, but only after three days (72 hours) have elapsed. If you should not succeed on your second attempt, you may retake the exam after a further 72-hour period to ensure that you can fully review the study material. Your manager can provide additional support should you require this. Once you have successfully completed this accreditation exam, and completed all the other requirements, you should be eligible to be awarded the VCT & EIS licence. Further accreditation information Further specific accreditation information is available from your manager and via the intranet at Home/Partnership Accreditation. Alternatively, you can contact Partnership Accreditation (T&C), on email at TandC2@sjp.co.uk , or on 01285 717571. Further product information For further specific product detail please refer to the relevant product literature, available via the Intranet (or your manager if you are a new Partner joining St. James’s Place). However, if you have any specific technical investment questions, please contact the Tax & Technical Support Helpdesk via email at TaxAndTechnicalSupport@ sjp.co.uk or on 01285 878110. Restricted licence If you only expect to make VCT and EIS recommendations where the client has no IHT objectives, i.e. their objectives are income tax planning and investment opportunity, then a restricted licence can be awarded to allow this without the need to complete the IHT & Estate Planning accreditations. All other elements of the VCT & EIS accreditation must be completed and the request for this restricted licence must be submitted to Partnership Accreditation by your manager. A VCT investment can be a high impact tax planning tool but it comes with risks. This study guide is designed to inform Partners about some of the key considerations so they can include it in their professional offering and provide clients with the highest standards of advice. MATTHEWWOODBRIDGE, HEAD OF DIVISION, ALTERNATIVES, ST. JAMES’S PLACE WEALTH MANAGEMENT