AIC applauds continuation of VCTs
The European Commission has confirmed that the current VCT scheme can continue unchanged.
The European Commission has confirmed that the current VCT scheme can continue unchanged. This decision ensures that VCTs can continue offering their current tax reliefs until 5 April 2035. After this date further approval will be required.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “This is excellent news for investors and businesses as it provides certainty that VCTs can continue to support the UK’s small and ambitious companies. This confirms the continuation of VCTs’ key role in providing funding and support to the UK’s smaller businesses, a key driver of economic growth. VCTs have many advantages for investors, including good long-term performance and their investee companies create jobs and social benefits for local communities.”
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Notes to editors
- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 325 members and the industry has total assets of approximately £276 billion.
- For more information about the AIC and investment trusts, visit the AIC’s website.
- Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investment company shares, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.
