It was an oft overlooked fact that both venture capital trusts (VCTs) and the enterprise investment scheme (EIS) tax-advantaged investment would cease in just two years’ time, so it has caused some not inconsiderable relief and euphoria within the VCT and EIS industries that the Chancellor has confirmed that what was called the ‘sunset clause’ has been extended to 2035.

Both VCT and EIS investments were born in 1995 and, much like a petulant infant, they experienced all manner of challenges in their early years. However, the characteristics of VCT and EIS investment have changed (almost) out of all recognition and are fast becoming a small but significant part of many high net worth clients' financial planning.