Close sees VCT sector future on the line

Ensuring a strong flow of dividends for investors would be required to ensure they stick with their vehicles over the longer period, required to make full use of the tax benefits available. CVM makes the comments in light of changes brought in through the Budget this year, which saw relevant tax relief cut to 30% from 40%, and significantly cut the maximum value of companies receiving VCT investments – the so-called £7m gross assets test. Some four months on from chancellor Gordon Brown's Budget speech, Patrick Reeve, managing director at CVM, says the firm is still unclear what sort of...