After The European Commission confirmed that the current VCT scheme can continue unchanged, Richard Stone, Chief Executive of the Association of Investment Companies (AIC), has shared his thoughts on this news.
This decision ensures that VCTs can continue offering their current tax reliefs until 5 April 2035. After this date further approval will be required.
Richard said:
“This is excellent news for investors and businesses as it provides certainty that VCTs can continue to support the UK’s small and ambitious companies. This confirms the continuation of VCTs’ key role in providing funding and support to the UK’s smaller businesses, a key driver of economic growth. VCTs have many advantages for investors, including good long-term performance and their investee companies create jobs and social benefits for local communities.”
