Remember, the value of an investment, and any income derived from it, can fall as well as rise. Investors may not get back the full amount they invest.

Tax treatment depends on individual circumstances and could change in the future.

You’ll find our full guide to risks here

Tax reliefs depend on VCTs maintaining their qualifying status or portfolio companies maintaining their BPR- or EIS-qualifying status.

VCT, smaller and unquoted company shares could fall or rise in value more than other shares listed on the main market of the London Stock Exchange. They may also be harder to sell.