Part 6Venture capital trusts

Chapter 2VCT relief

Entitlement to relief

262Entitlement to claim relief

(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.