Seneca Partners Investment Director John Davies discusses VCTs and some major themes affecting the sector.

Tax advantaged investing is regarded by the UK government as a mechanism for driving the engine room of the economy. The younger, growing companies in the tax advantaged space are essential to the well-being of the Country as a whole, creating employment, prosperity and delivering revenues into the exchequer. Last year saw record inflows into VCTs alone with circa £800 million committed by investors across the UK and when combined with EIS, the figure rose to around £1.5 billion. With new pension restrictions fully in force, investing in VCTs or EIS continues to be a popular way for investors to utilise tax reliefs. The upfront tax relief of 30%, the potential for tax free growth and the dividends are all compelling although subject to qualifying rules.

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