There are now over 4.2 million people in the UK paying tax at the higher rates of income tax, but options for mitigating income tax liabilities have also narrowed in recent years with both greater restrictions on the amounts that can be contributed annually into pensions as well as the value of assets that can be accumulated in them over a lifetime. In particular, the introduction of a tapered annual pension allowance for those with total incomes of over £150,000 per year has significantly curtailed access to pension tax reliefs for higher earners. Unsurprisingly then, those impacted by these developments have been increasingly prepared to explore alternative, tax-efficient schemes, such as VCTs, which have full statutory backing as a state aided scheme designed to attract private finance for fledgling UK companies.

Ten VCTs to invest in for 2019
The offers that we believe merit strong consideration include the latest fund raisings from:

  • Octopus Titan;
  • British Smaller Companies VCT;
  • British Smaller Companies VCT 2;
  • Hargreave Hale AIM VCT;
  • Albion VCTs (x 6)

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