Compare VCTs
Compare UK Venture Capital Trusts by investment strategy, minimum investment, fees, portfolio diversification, dividend policy and liquidity.
VCTs invest in smaller, higher-risk companies. Share values can fall, dividends are not guaranteed and you could lose some or all of your investment.
Higher risk
VCTs invest mainly in smaller and younger companies.
Capital at risk
You could lose some or all of your investment.
Illiquid
VCT shares can be difficult to sell and may trade below NAV.
Tax relief has conditions
Qualifying new VCT shares may receive tax relief, subject to current rules and your circumstances.
Compare VCTs
Compare more than headline tax relief. Strategy, fees, portfolio diversification, dividend policy, NAV and liquidity all matter.
9 Venture Capital Trusts
0 currently accepting new subscriptions · 3 coming soon · 9 with published buyback policies
New share offer
No current new-share offer
Minimum investment
Current offer unavailable
Annual management fee
Tiered (up to 2%)
Portfolio
Not verified
Dividend policy
Current policy / target; not guaranteed
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
No current new-share offer
Minimum investment
Current offer unavailable
Annual management fee
2%
Portfolio
Not verified
Dividend policy
Targets annual dividend yield of 5% of NAV; n…
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
No current new-share offer
Minimum investment
£5,000
Annual management fee
1.5%
Portfolio
Not verified
Dividend policy
VCT-specific; not guaranteed
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
No current new-share offer
Minimum investment
Current offer unavailable
Annual management fee
Not verified
Portfolio
Not verified
Dividend policy
Verify current dividend policy
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
No current new-share offer
Minimum investment
£6,000
Annual management fee
Not verified
Portfolio
Not verified
Dividend policy
Dividend policy per current annual report; no…
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
Coming soon
Minimum investment
£6,000
Annual management fee
Not verified
Portfolio
Not verified
Dividend policy
VCT-specific dividend policy; not guaranteed
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
Coming soon
Minimum investment
£6,000
Annual management fee
Not verified
Portfolio
Not verified
Dividend policy
VCT-specific dividend policy; not guaranteed
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
Coming soon
Minimum investment
£6,000
Annual management fee
Not verified
Portfolio
Not verified
Dividend policy
VCT-specific dividend policy; not guaranteed
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
New share offer
No current new-share offer
Minimum investment
Current offer unavailable
Annual management fee
Not verified
Portfolio
Not verified
Dividend policy
Income-focused VCTs; dividends not guaranteed
Not guaranteed
Buyback
Published policy
VCTs invest in smaller companies. Capital at risk. Dividends are not guaranteed.
VCT basics
A Venture Capital Trust is a UK-listed investment company that invests mainly in smaller qualifying businesses.
The VCT itself is listed, but many of the businesses it owns are private or smaller quoted companies.
Step 1
Investor
Step 2
VCT
Step 3
Portfolio of smaller UK companies
Do not assume buying existing shares provides the same tax benefits as subscribing to new shares.
Tax treatment depends on your circumstances and current rules. Relief can be withdrawn if conditions are not met. Upfront Income Tax relief generally applies to qualifying new VCT share subscriptions — do not assume the same relief for ordinary secondary-market purchases.
From 6 April 2026, qualifying subscriptions for new VCT shares can receive up to 20% upfront income-tax relief, subject to eligibility. Maximum qualifying VCT subscriptions: £200,000 per tax year. New shares normally need to be held for at least 5 years to retain initial income-tax relief.
Available on qualifying new-share subscriptions from 6 April 2026, subject to conditions.
Qualifying VCT dividends can generally be received free from income tax.
Qualifying disposals can generally be exempt from Capital Gains Tax.
Maximum annual subscription that can qualify for VCT income-tax relief.
Selling qualifying new shares too early can mean repaying the initial income-tax relief.
Tax relief calculator
Uses the current 2026/27 relief rate of 20% from our central VCT tax rules. Illustrative only — not advice.
Current relief rate: 20% · Annual subscription limit used in this illustration: £200,000
Illustrative result
Illustrative only. Actual relief depends on current legislation, qualifying shares, sufficient Income Tax liability, investor eligibility and holding-period conditions. This calculator does not estimate investment returns or guaranteed profit.
Invests across multiple sectors and business types.
Invests substantially in qualifying businesses listed on AIM.
Concentrates on specific sectors, themes or business models such as software, technology, healthcare or sustainability. Specialist does not mean higher return.
VCTs can own dozens of companies, but portfolio size alone does not tell you how diversified the risk is. More companies does not automatically mean safer.
A lower fee does not automatically mean a better VCT, but fees reduce the amount invested and/or future returns.
Charges applied when you subscribe for new shares.
Ongoing charge for managing the VCT portfolio.
Additional fee that may apply if performance hurdles are met.
Administration, custody and other ongoing expenses.
Separate charges that may apply depending on how you invest.
A discount can widen as well as narrow. Listed VCT shares can trade above or below their net asset value.
Estimated value of the VCT's assets minus liabilities.
Price investors are currently willing to pay on the stock market.
Illustrative example only
NAV
100p
Share price
92p
Discount to NAV
8%
Many VCT boards operate discretionary share-buyback programmes intended to support liquidity and manage the discount to NAV. Buybacks are not guaranteed.
Board currently purchasing eligible shares.
Capacity or timetable constraints apply.
Board temporarily not purchasing shares.
Investor relies mainly on ordinary market demand.
Tax benefits do not make an investment low risk.
You could lose some or all of your money.
Younger and smaller companies can fail or grow more slowly than expected.
Selling VCT shares can be difficult and spreads can be wide.
Share price can trade materially below estimated net asset value.
Private holdings can be hard to value accurately between exits.
Dividends are not guaranteed and can be cut or stopped.
Sector, manager or top-holding concentration can magnify losses.
Investment outcomes depend on the manager's process and decisions.
Tax treatment depends on circumstances and rules can change.
Performance fees can reduce net returns when hurdles are met.
Educational only — not personalised advice.
Common questions
Our methodology
We do not rank VCTs by the highest historic dividend. We do not rank VCTs primarily by tax relief. Commercial relationships do not determine factual VCT information.
Editorial trust
Provider information last checked: 2026-08-09
Official sources
GOV.UK — VCT / EIS scheme changesGOV.UK — VCT tax reliefHMRC — VCT front-end Income Tax reliefSpotted an error? Email contact@witfinancegroup.com
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