VCTs fill in record speed ahead of tax year-end

Northern VCT filled in two days

Tom Ellis
clock • 2 min read

Tax-efficient investments, such as VCTs, have been reaching their fundraising targets in record times, spurred by rule changes and the approaching tax year-end.

Northern Venture Trust's £4.3m offer of new ordinary shares filled in just two days at the beginning of February while YFM's British Smaller Companies VCT2 raised its £4.25m limit in a company-record five days at the beginning of January. Other quick-filling offers include Unicorn's AIM VCT, which closed within two weeks and Maven's VCT 6, which reached its £8m top-up target by 7 February, while numerous other fast-selling examples can be found elsewhere in the sector. Last year's venture capital trust (VCT) rule changes, such as their no longer being able to back management buy-out s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

Majority of advisers think NI cut will not boost pensions savings

Majority of advisers think NI cut will not boost pensions savings

Only one in ten think people will put the extra cash into pensions savings

Isabel Baxter
clock 11 March 2024 • 1 min read
Partner Insight: Royal London's Fiona Hanrahan — 'Your top tax year end questions answered'

Partner Insight: Royal London's Fiona Hanrahan — 'Your top tax year end questions answered'

Fiona Hanrahan, Senior Intermediary Development and Technical Manager, Royal London
clock 08 February 2024 • 3 min read
Treasury collects £2bn in 12 weeks as IHT receipts continue to soar

Treasury collects £2bn in 12 weeks as IHT receipts continue to soar

Figure breaks down at £22m a day for the government’s coffers

Hope William-Smith
clock 21 July 2023 • 2 min read