Coming Of Age: VCTS Appeal and Need is Growing
- On February 27, 2019
- By GrowthInvest Admin
VCTs are becoming a more obvious investment choice for an increasing number of high earners just at a time when they are ‘coming of age’.
The appeal of VCTs continues to grow and last year, Association of Investment Companies (AIC) data showed that the alternative investment vehicle had raised £728 million in the 2017/18 tax year, a huge 34% rise on the £542 million raised the year before, and the highest ever amount raised at the current level of 30% upfront income tax relief.
Before last year, the largest sum raised was £779 million, when the initial tax relief on investments was 40%.
As of 5 April 2018, the amount of assets under management in VCTs totalled £4.3 billion, showing the appetite for the investments is significant.
The investments had a further boost from the government’s Autumn Budget last year, according to Annabel Brodie-Smith, Communications Director at the AIC.
She noted the Budget reiterated VCTs place as ‘an effective provider of patient capital’.
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