Tax lift for VCT investors

the budget

Enhanced income tax relief of 40% on all shares issued between 6 april 2004 and 5 April 2006

Venture capital trust (VCT) investors will receive 40% income tax relief on all shares issued between 6 April 2004 and 5 April 2006. As announced in last week's Budget, the enhanced income tax relief will be available on top-up C shares as well as new trusts and will go direct to investors. This represents something of a U-turn from the Government, which said this money would go direct to VCT managers in last December's pre-Budget report. Tax relief is to increase from 20% to 40% for VCT shares issued in the 2004/05 and 2005/06 tax years in a measure designed to stimulate interest in the...