Venture Capital Trusts are currently on track for a bumper year with fundraising put in the fast lane thanks to the government’s decision to increase dividend tax rates next April.
However, eyes are now on the Chancellor's red briefcase to see if he will target VCTs to pay for the Covid bill, or make the regime more favourable as he pursues the levelling up agenda. AIC calls for removal of stamp duty for investment companies Figures from the Wealth Club showed that total VCT investment is up 437% (£127.7m) so far this tax year compared to last (£23.8m). This puts it on track to overtake the last biggest year in VCT history, 2005/2006 when £779m was raised because the tax relief was temporarily increased from 30% to 40%. "The government's recent decision to ...
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