VCT fundraising in 2017/18 second highest on record, HMRC confirms

£745m raised

Hannah Godfrey
clock • 2 min read

The level of funds raised by venture capital trusts (VCTs) in 2017/18 was up almost a third on the previous tax year - to £745m - the latest figures from HM Revenue & Customs (HMRC) have confirmed.

Up a little over 30% on the previous tax year's figure of £570m, the £745m is also the second highest amount raised since VCTs were created in 1995 - eclipsed only by the £779m raised in 2005/06. That means the most recent amount was also the most raised at the current level of 30% upfront tax relief - the initial tax relief on investments in 2005/06 having been 40%. While the number of VCTs raising funds has been declining in recent years, according to HMRC, 2017/18 saw the first increase since 2013/14. As the following table illustrates, in 2017/18 there were 43 VCTs that raised fun...

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 Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read