One of Rachel Reeves’ parting shots as Chancellor was to chip away at the tax breaks available to those investing in venture capital trusts (VCTs).
Yet despite the move – much derided given the Government’s wish to get people investing more, not less, in British businesses – investment commentators insist these trusts can still play an important role in long-term financial planning.
For income-seekers, in particular, they can provide a rich seam of tax-free dividends to complement income from other sources such as pensions and Isas. They can also mitigate tax bills.
But investing in these trusts is high risk, and investors need
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