Tory pitch on VCTs dismissed by industry

Flight’s argument is based on wording in the Finance Bill, and previous Budget statements, on the intent to double the amount of money investors can put into VCTs as well as a doubling of the tax relief offered, but with a two-year window of opportunity attached. Flight suggests this is evidence the government will scrap VCTs when the window closes. “The Government has signalled its intention to phase out Venture Capital Trusts. The removal of the capital gains deferral relief is likely to have a significant negative impact on VCTs,” Flight says in a statement released by his Party. ...