Income Tax Act 2007 (c. 3)

Part 6 U.K. Venture capital trusts

Chapter 2 U.K. VCT relief

Entitlement to relief U.K.

262 Entitlement to claim relief U.K.

(1) An individual (“A”) who is eligible for VCT relief by reference to shares issued in a tax year is entitled to claim VCT relief for that year.

(2) A is entitled to claim VCT relief in respect of the amount on which A is eligible for VCT relief by reference to all or some of the shares.

This is subject to subsection (3).

(3) A is not entitled to claim VCT relief for any tax year on an amount of more than £200,000.