Investors in venture capital trusts (VCTs) benefit from upfront tax relief of 30 per cent on investments of up to ?200,000 a year.
The Government has encouraged the use of VCTs as a way of boosting investment in smaller growing businesses. Small and medium-sized firms benefited from about ?350million of VCT funding in 2010-11.
Under the Finance Bill, investors will lose the tax relief if the companies they are funding receive more than ?2million from VCTS and other forms of ?State-aided risk-capital investment? such as Enterprise Investment Schemes and Seed Enterprise Investment schemes in any 12-month period.
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