Headaches for renewables funds as Osborne cuts VCT tax breaks

Renewable energy companies will no longer be able to give investors relief under venture capital scheme rules, George Osborne has announced in today's Autumn Statement.

The change will apply to renewable energy companies already "substantially benefiting" from other government support. This could mean companies already recieving subsidies will no longer benefit from tax breaks as well.  "In order to better target the tax reliefs, the government will exclude all companies substantially benefiting from other government support for the generation of renewable energy from also benefiting from tax-advantaged venture capital schemes," Osborne said. The exception to this rule will be community energy generation undertaken by qualifying organisations - which...