| Scheme | Type | Closing date |
| Downing Income VCT 3 | VCT | 5 April 2012 / 30 April 2012 |
| Downing Planned Exit VCT 2 & 3 - F Share Offer | VCT | 5 April 2012 / 30 April 2012 |
| Downing Structured Opportunities VCT 1 - D Share Offer | VCT | 5 April 2012 / 30 April 2012 |
| Northern 2 VCT PLC | VCT | 5 April 2012 / 30 April 2012 |
| PFS Downing Active Management Fund | OEIC | - |
| Downing IHT Portfolio Service | IHT | - |
Downing has produced this document to provide a brief outline to claiming tax relief after making an investment into a VCT: Downing's Guide to Claiming Income Tax Relief on VCTs
This Downing Guide to VCTs has been prepared to provide an introduction to VCTs and, in particular, the related tax reliefs and how to claim them. The risks of investing in VCTs, their performance, the different types of VCTs and how they operate are also explored. Finally, the key pointers on how to select a VCT and detailed questions and answers are set out at the end of the Guide.
Past performance is no guide to future performance. It is important that you read and fully understand the risks involved with these investments so that you can decide whether they are right for you. These are set out in the relevant prospectus, offer document or information memorandum. A VCT should be regarded as a longer term investment. Please remember that the value of an investment in a VCT may fall as well as rise and an investor may not get back the full amount invested. The value of the tax reliefs will depend on personal circumstances. Tax rules and regulations are subject to change. This VCT will invest in small companies which, by their nature, will have a higher risk profile than larger companies.


