VCTs have an important role as a savings vehicle for investors

VCTs

If tax relief is not reduced too greatly on VCTs they will continue to play an important role as a tax efficient savings vehicle for investors

The Chancellor of the Exchequer Gordon Brown likes to keep everyone guessing. So the venture capital trust (VCT) industry should not have been surprised when the much anticipated changes to tax treatment for VCTs failed to get a mention in his pre-budget announcement speech. The industry had been hoping for some firm guidance on what the future direction of tax relief on the funds would be. However, it was only given a brief mention in the pre-budget briefing papers. The note merely said: "The government remains committed to ensuring the long-term sustainability and success of the VCT ma...