Venture Capital Trusts (VCTs) are specialist tax-efficient vehicles that tend to be suitable for those with high-risk tolerances.

They also offer a great alternative to those who are fully tapered on their pension contributions and wish to benefit from tax relief.

Here are some benefits:

• 30% upfront income tax relief

• Tax free dividends

• No capital gains tax

• 30% relief can potentially be obtained every 5 years

Some examples of companies backed include Zoopla, Graze, Cazoo, and Secret escapes.