If you have a significantly large income tax bill it may be worth seeking the advice of a Tax Consultant who specialises in Film Partnerships, an excellent vehicle for reclaiming Income and Capital Gains Tax.
If you pay a considerable amount of income tax at the higher rate you may find Enterprise Zone investment very attractive. Effectively the Revenue provides most of your deposit in what could be a very lucrative investment.
Venture Capital Trusts (VCT) were introduced to encourage investment into young, developing companies. VCTs are companies in their own right, quoted on the London Stock Exchange and are therefore tightly regulated.
Like VCTs, Enterprise investment schemes (EIS) were introduced to stimulate investment into developing businesses. There are differences in structure and tax treatment.