In 2021-22, investment in Venture Capital Trusts (VCTs) eligible for income tax relief surged by 61%, reaching £1,040m. The number of investors claiming tax relief also rose by 32% to 25,800. Most investors typically contribute under £50,000, with an average investment of £40,000. However, HMRC deferred the publication of 2022-23 figures to May 2024, citing a downward revision in previous data. Critics suggest that the current £200,000 annual investment limit for VCTs, unchanged for nearly two decades, may be constraining funding for small businesses.

WIM Accountants are here to help businesses with their accounting and taxation needs.

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