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Finance Act 1995
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Changes over time for: Section 71
Version Superseded: 06/04/2007
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- 01/05/1995- Amendment
- 29/04/1996
Point in time - 06/04/2007- Amendment
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71 Income tax relief.U.K.
(1)In Chapter IV of Part VII of the Taxes Act 1988 (special provisions), after section 332 there shall be inserted the following section—
“332A Venture capital trusts: relief.
Schedule 15B shall have effect for conferring relief from income tax in respect of investments in venture capital trusts and distributions by such trusts.”
(2)Schedule 15 to this Act (relief in respect of holdings in a venture capital trust) shall be inserted, before Schedule 16 to the Taxes Act 1988, as Schedule 15B to that Act, and shall be construed accordingly.
(3)In the Table in section 98 of the Management Act (penalties in respect of certain information provisions)—
(a)after the entry in the first column relating to paragraph 14(5) of Schedule 15 to the Taxes Act 1988 there shall be inserted the following entry—
“Schedule 15B, paragraph 5(2);”
and
(b)after the entry in the second column relating to paragraph 14(4) of Schedule 15 to the Taxes Act 1988 there shall be inserted the following entry—
“Schedule 15B, paragraph 5(1);”.
(4)This section has effect for the year 1995-96 and subsequent years of assessment.
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