The government will be able to widen the scope for VCT investment after the European Commission approved its proposals.
Under the new rules, the size of companies which can receive VCT funds will rise from those with assets of £7m to £15m. The investment horizon will also be expanded to allow the schemes to invest in companies with 250 employees, up from a maximum of 50. Companies can also receive more money from VCTs and other similar schemes, up to £5m per company in place of the previous limit of £2m. Director general of the Association of Investment Companies, Ian Sayers said: "Today's approval makes VCTs one of the most generous incentive schemes in Europe. "Convincing the Commission that V...
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