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A reminder ahead of this week's submissions to the Chancellor of the Exchequer .........The Financial Times has already exposed why VCTs are such a lousy investment and complete rip-off

https://www.ft.com/content/d6fd725b-3e6e-46a8-8c14-12b936e7cce8 and all based on data from the two crooks', Patrick Reeve and Will Fraser-Allen, very own Association of Investment Companies. For those interested persons without a subscription, a copy is available at https://app.box.com/s/ct30barc75qfpi35xczt4eldxdjkwyz2 ------------------------------------------------------------------------------------------------------------ An interesting statistic: VCTs only have to invest 30% of new money. Tax relief is immediate 30% cash back. So the Government is directly paying for the entire investment by VCTs without any participation in the upside - even Donald Trump isn't that duplicitous! That is why Albion's sworn testimony and admission that VCTs are PONZI schemes needing endless rounds of fund raising is of such concern.   Is it any wonder that the UK is a failed State with ever increasing wealth divisions?  Will Rachel "stop the rot" and tax VCT dividends to raise...
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[UPDATE 22 AUGUST... and Lo it came to pass...] Albion Capital Group and Howard Kennedy llp confirm to the High Court that all VCTs are Ponzi schemes.

Following ICAEW's 2nd level decision (sent out on Friday 15 August) that it's members providing Independent Valuer Services to VCTs are not in breach of s596(3)(a) the Companies Act when they fail to comply with the mandatory disclosures and just pocket the money for rubber stamping Investment Managers valuations (knowingly false and unjustifable in the case of all the Albion VCTs) it is time to get back to work after the Summer Vacations. On 23 January 2025 Albion and Howard Kennedy llp swore under penalty of Perjury in statements to the High Court that:  "VCTs rely on regular fundraising rounds to continue their activities." The very definition of a PONZI scheme. https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme This is why the tame Directors of the VCTs have such a vested interest in making sure that VCT managers never increase the NAV beyond a level at which they can maintain the 5% annual payments out of Share Premium monies from e...
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Time to start a generic blog exposing the gory details of the Government sponsored scam.

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  HOW IT WORKS: 1. Incorporate a plc with Penny shares 2. Apply to HMRC for approval 3. Apply to Financial Conduct Authority and London Stock Exchange  4. Appoint compliant directors. 5. Issue Penny shares for One Pound. 6. Invest only 30 pence per share.  7. Take initial and directors salaries on all investments. 8. Pay all interest earned to professionals and as Investment manager fees. 9.  Apply to High Court to cancel 99 pence "share premium" so it can be paid out as dividends. 10. Value investments at higher of original cost or "thumb in the sky". 11. Repeat as often as possible 12.  When you run out of money or can't realise investments simply merge the companies on valuations that you alone decide. 13. Join a self serving Trade Association. HOW YOU FIND INVESTORS: Go into partnerhip with Financial Advisers who, for large fees, will promote the scam as:  "HMRC will pay you so much that you have £1m in 10 years time that has cost you nothing"
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