“What assessment she has made of the potential impact of reducing upfront Venture Capital Trust (VCT) Income Tax relief on VCT fundraising.”
Asked by
Alan Mak
Answering Minister
the Chancellor of the Exchequer
Answer from Hansard
The Economic Secretary to the Treasury (Rachel Blake)
At the Budget, the Government announced a comprehensive package of entrepreneurship tax measures, designed to provide substantially enhanced support for scaling businesses across the UK. That includes doubling the maximum amount that a company can raise through the enterprise investment scheme and the venture capital trust scheme. Overall, the changes to those schemes are forecast to generate about £100 million per year of additional investment in high-growth, scaling companies, thanks to the increased scheme limits in the Budget.