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Form of return

A company which is or has been a VCT must make a return to HMRC dealing with its accounts of all its investments for each accounting period for which it was approved as a VCT. If it was approved as a VCT only for part of an accounting period, it must make a return for that part of the accounting period.

The return is made to HMRC through a digital template and not through the free format paper returns which have historically been accepted¹. It is mandatory for all VCTs to use the digital template when submitting returns of investment details. The return must be filed electronically using the Secure Electronic Transfer System (SET) system. The VCT or nominated agent must apply to be enrolled for SET².

If for some reason the return cannot be submitted electronically then it can be sent by post but it must be in the format of the template. The postal address can be found in VCM58100.

The period of the return

For