Chapter 1: Introduction
Overview
797.This Chapter gives an overview of the Part, labels certain concepts and gives signposts to material contained elsewhere.
Section 258: Overview of Part
798.This section says that the relief dealt with by this Part (“VCT relief”) is a tax reduction and it provides a navigational aid regarding the content of later Chapters. It is based on section 332A of ICTA.
Section 259: Venture capital trusts and VCT approvals
799.This section defines “venture capital trust”, “VCT” and “VCT approval”. It is based on section 842AA(1) of ICTA and paragraphs 7(4) and 17 of Schedule 33 to FA 2002.
Section 260: Other tax reliefs relating to VCTs
800.This section provides signposts to other tax reliefs relating to VCTs. It is new.