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How to calculate how much to invest in VCT?

VCT versus EIS

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Hello,

I normally invest enough in EIS to claim back the income tax from the prior year. I'm considering investing in VCT but I believe I can only claim the tax allowance in the tax year of the investment. But I don't know how much to invest until the tax year has ended (to know my income tax) so I have a chicken and egg problem? Please can you tell me if I'm missing something? Many thanks for your help

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By Not Anonymous
15th Feb 2021 18:47

We are missing what the source of income is which generates your normal income tax liability.

Presumably your February payslip gives you a good starting point.

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