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Home / Simons-Taxes /Personal and employment tax /Part E3 Reliefs for investors /Division E3.2 Venture Capital Trust schemes (VCTs) /VCTs—company conditions / E3.240 Valuation of investments for the purposes of the 15%, 70% and 30% conditions
Commentary

E3.240 Valuation of investments for the purposes of the 15%, 70% and 30% conditions


Personal and employment tax

Investment value at acquisition

The general rule is that the value of a holding of investments for the purposes of the 15% test, the 70% test and (where appropriate) the 30% conditions described in E3.234, is taken as its value when acquired1.

Addition to a holding

An addition is made to a holding of investments of any description whenever the company acquires further investments of that description, other than bonus shares2.

The value is taken immediately after the most recent addition or payment where3:

  1. Ìý

    •ÌýÌýÌýÌý the holding is increased by the addition of further investments of the same description, or

  2. Ìý

    •ÌýÌýÌýÌý a payment is made to discharge all

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