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Division E3.2 Venture Capital Trust schemes (VCTs)

Personal and employment tax

Division E3.2 Venture Capital Trust schemes (VCTs)

E3.201 VCTs—overview
E3.210 Income tax relief on VCT shares, in brief
E3.211 Investment relief for the investor
E3.212 Loss of investment relief for the investor
E3.213 Dividend relief—exemption from income tax for the investor
E3.220 VCTs—capital gains tax reliefs for the investor
E3.221 Disposal relief for the investor
E3.225 Deferral relief for the investor
E3.226 Gains postponed prior to 6 April 2004—chargeable events
E3.227 Gains postponed prior to 6 April 2004—assessment of the postponed gain
E3.230 Corporation tax relief for the VCT and approval conditions
E3.231 VCT company approval—the nature of income condition
E3.232 VCT company approval—the income retention condition
E3.233 VCT company approval—the 15% holding limit condition
E3.234 VCT company approval—the 80% qualifying holdings and 70% eligible shares conditions
E3.235 VCT company approval—the investment limits condition
E3.236 VCT company approval—the minimum investment on further issue condition
E3.237 VCT company approval—the permitted maximum age condition
E3.238 VCT company approval—the no business acquisition condition
E3.239 Withdrawal of VCT approval from a company
E3.240 Valuation of investments for the purposes of the 15%, 70% and 30% conditions
E3.241 Mergers of one VCT with another VCT company or group
E3.242 Winding up of a VCT
E3.245 Investments made by the VCT must be qualifying holdings
E3.246 The relevant company seeking investment from the VCT must be unquoted
E3.248 VCT excluded activities—qualifying trades
E3.249 VCT excluded activities—wholesale and retail distribution
E3.250 VCT excluded activities—ship chartering
E3.251 VCT excluded activities—royalties and licence fees
E3.252 VCT—parent and subsidiary companies
E3.253 VCT—maximum permitted asset value
E3.254 VCT—maximum number of employees
E3.255 VCT—maximum amount raised through risk finance investments
E3.256 VCT—use of the money raised
E3.257 VCT—maximum investment
E3.258 VCT—guaranteed loans
E3.259 VCT—holding to include eligible shares
E3.260 VCT—disqualifying arrangements
E3.261 VCT—the permitted company age requirement
E3.262 VCT—the risk to capital requirement
E3.263 VCT—restructuring
E3.264 VCT—convertible shares and securities
E3.265 Winding up of investee company
E3.267 Definition of a knowledge intensive company (KIC)
E3.270 Application for approval as a VCT
E3.271 Grant, refusal or withdrawal of approval as a VCT
E3.272 Appeals regarding a VCT approval status
E3.273 Returns to be made by a VCT
E3.274 Records to be kept by a VCT
E3.275 Information required by HMRC about a VCT

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