'Jury is out' on whether advisers will decrease VCT use after Budget tax relief cut

The supporting document of Rachel Reeves' Autumn Budget unveiled that the upfront income tax relief for VCTs will be cut from 30% to 20% as of April 2026. Time will tell if adviser sentiment towards the tax-efficient product for clients will be impacted. "The jury is out on whether advisers will decrease their use of VCTs," Sweeny Wealth Management financial adviser Paul Sweeny told PA. "It is an area we will continue to monitor closely once the legislation comes into effect." VCT change ‘appears to contradict' government's growth mantra The financial adviser said the change to i...