Get a break backing small firms

If you’ve filled your Isa and pension, VCTs and the EIS offer good tax perks – but make sure you understand the risks

If you've filled your Isa and pension, VCTs and the EIS offer good tax perks but make sure you understand the risks.

Private pensions and individual savings accounts (Isas) offer generous tax incentives to savers and investors putting money by for the long term, but if you're putting aside a lot of money each year, you may find that you've used up your tax allowances. In that case, you may want to consider other tax-efficient vehicles, such as venture capital trusts (VCTs) and the enterprise investment scheme (EIS), which can offer attractive opportunities.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.