Budget 26: 'Frustrating' VCT tax relief absent from Budget despite industry lobbying
Wednesday, October 28, 2026 · first reported by Investment Week
Upfront income tax relief for venture capital trusts stays at 20% after the Budget of 28 October. Chancellor John Healey did not mention VCTs in his first Budget, and its 166-page document contained no VCT policy announcements. His predecessor Rachel Reeves lowered the rate from 30% in the previous Budget, effective April this year.
The AIC and the VCTA had urged Healey in September to restore 30%, backed by an open letter signed by industry stakeholders and a dozen MPs. AIC chief executive Richard Stone called the decision frustrating. VCTA chair Chris Lewis called it a missed opportunity.
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