The VCT Association has welcomed the news that the VCT and EIS “Sunset Clause” has been extended for another 10 years.
The European Commission has confirmed its decision “not to raise objections” to the prolongation of both the Venture Capital Trust (VCT) and the Enterprise Investment Scheme (EIS) schemes.
Chris Lewis, Chair of the VCT Association, commented:
“The extension of the Sunset Clause will be welcomed by all those in the VCT & EIS sectors. This includes our VCTA members and the many entrepreneurs and scale-up businesses which they support. We look forward to continuing our dialogue with HM Treasury to confirm the details of this extension.
The VCT Association has continuously sought to demonstrate the positive impact made by our members throughout the UK, through their investment in the next generation of early-stage businesses. We are delighted that the response from the European Commission was informed by not only the VCTA’s own research, but also by a body of research from other associations across the industry. This a very good day for the UK’s VCT community.”
