As the squeeze is put on many tax reliefs, wealthier investors are piling in to risky trusts that offer other perks

Wealthy savers are ploughing millions into risky tax-efficient investment schemes, amid a crackdown on pensions and fears of an increase in capital gains tax (CGT).

The amount being put into venture capital trusts (VCTs), low-tax schemes designed to raise money for start-up companies, is rising rapidly as investors hunt for tax breaks.

You can invest up to £200,000 into these trusts each year and get 30 per cent income tax relief, as long as you hold your VCT shares for five years.

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