VCT investment increased modestly to £881 million in 2024–25, up from £872 million in the previous tax year. In response to the latest HMRC figures, industry experts have shared their views with us.
MQ Wei, Lead Tax Advantaged Analyst at St. James’s Place, commented:
“The latest HMRC statistics for VCTs and EIS point to a market that is beginning to stabilise following a period of adjustment. Across both schemes, we are seeing a clear trend of fewer investors committing larger amounts of capital, suggesting an increasingly concentrated investor base. This is likely being driven by a combination of lower disposable income, continued macroeconomic uncertainty and a more complex regulatory landscape.”