Autumn Statement: AIC welcomes government’s promise to extend VCT sunset clause to 2035
The Chancellor has committed to extending VCTs’ sunset clause to 2035.
See government policy paper: ‘Enterprise Investment Scheme and Venture Capital Trusts scheme extension’
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “It’s excellent news that the Chancellor has committed to extending VCTs’ sunset clause to 2035. This addresses an urgent issue as the sunset clause would have automatically ended VCT tax relief in April 2025. The extension to 2035 will help provide certainty to investors and businesses and enable VCTs to continue supporting UK growth companies.
“VCTs play a vital role in providing funding and support to small, ambitious UK businesses, a key driver of economic growth. The AIC will continue to work with the government as the legislation passes through parliament and we hope this measure will unlock further investment.”
“VCTs play a vital role in providing funding and support to small, ambitious UK businesses, a key driver of economic growth. The AIC will continue to work with the government as the legislation passes through parliament and we hope this measure will unlock further investment.”
Richard Stone, Chief Executive of the Association of Investment Companies (AIC)
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Notes to editors
1. The Association of Investment Companies (AIC) represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs. The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s vision is for investment companies to be understood and considered by every investor. The AIC has 343 members and the industry has total assets of approximately £256 billion.
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