VCT relief against National Insurance?

[Womble7]

Can I use the (30% upfront) tax relief from investing in a venture capital trust (VCT) to reduce the following tax/NI liabilities:

1. Tax on savings interest?
2. Tax on dividend income (from other share investments)?
3. Self-employed National Insurance contributions (Class 4 and/Class 2)?
4. Corporation tax payable by my owner-managed limited company?

Or is the VCT relief only against income tax due on work earnings (employed and/or self-employed)?

[j_khanum]

Hi,

The VCT tax relief will reduce your income tax liability by 30% from the following sources of income:

Non-savings income (i.e. employment income, self-employment, rental income etc)
Savings income
Dividend income

Therefore it will reduce your tax liability from 1) and 2)

The VCT will not act as a tax reducer against National Insurance contributions and cannot reduce your corporation tax liability.

Regards,