AIC pushes chancellor Healey to restore 30% VCT tax relief in Budget

Tax relief for VCT investors was slashed from 30% to 20% at last year's Budget, delivered by former chancellor Rachel Reeves, a measure which came into force in April. AIC chief executive Richard Stone said today (10 September) that the government needs to make sure it supports the UK's most ambitious companies. "Venture capital trusts play a vital role in helping companies scale up while remaining in the UK, contributing to the domestic economy. The cut to VCT tax relief from 30% to 20% in the last Budget made the scheme less attractive and will result in lower funding for the compan...