[UPDATE 27 November] Has the Chancellor just sounded the slow death knell of VCTs as presently constituted and incessantly scammed by their Investment Managers .... let us hope so

Upfront tax deduction reduced to basic rate tax and the launch of a "review".


About time too.

10% upfront saving was apparently easier to implement and an easier sell to the public than scrapping tax free dividends, but it should have much the same effect.

Will we now see VCT managers change their fee structures to "realised gains only"? Hardly likely given their obscene greed if they think they can get away with it rather than change to EIS and SEIS fee structures as it will play havoc with their income and cash flow.

We should see massive consolidation in the sector after the flurry of even more new fund raisings and nowhere to invest them within 12 months, and as the FT reports one very reputable intermediary saying "it really will be a case of buy now while stocks last" . Heaven help the punters!  


27 November UPDATE

Links to "Review" documents

Call for  Evidence:

   https://assets.publishing.service.gov.uk/media/692828f92a37784b16ecf615/Tax_Entrepreneurship_CfE.pdf

and Entrepreneurship in the UK:

https://assets.publishing.service.gov.uk/media/6925e64222424e25e6bc31b1/Entrepreneurship_prospectus.pdf


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