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The Handbook of Personal Wealth Management, 8th Edition by Jonathan Reuvid

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1.4

Venture Capital Trusts (VCTs)

DAN TUBB, HEAD OF VCTS, BESTINVEST

What is a VCT?

VCTs were introduced to encourage individuals to invest in smaller UK companies whose shares and securities are not listed on the main UK stock exchange. Such companies tend to be higher risk than larger ‘blue chips’ so the government offers tax breaks as an incentive to attract investors.

VCTs are listed on the London Stock Exchange, which lays down rigorous standards on the qualifications and experience of the managers. Money raised from individual investors is pooled by the VCT to acquire a number of different investments, with the aim of spreading risk across the company’s portfolio.

Investors into these schemes benefit from a number of highly attractive ...

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