Venture Capital Trusts (VCTs) are government-sanctioned, tax-advantaged, closed ended, patient capital generators with SME investee targets and high growth ambitions. That makes them very interesting tools for tax planners, investors and economists (whether in government or not), plotting their own wealth futures and that of the UK in general. In times of political and financial uncertainty, with recession in the offing, backing the new and unproven is probably not on your list of client recommendations, but that’s exactly when the Treasury needs it – to help drive job creation, GDP and tax revenue. The quid pro quo is 30% upfront income tax relief, tax-free growth and tax-free dividends. But the rules and restrictions can be complex and they can shift. So, this guide is intended to help advisers to get a better understanding of the current practicalities and technicalities, where pitfalls lie, and when VCT could work for your clients.

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