Income Tax Act 2007 (c. 3)

Part 6 U.K. Venture capital trusts

Chapter 2 U.K. VCT relief

Supplementary U.K.

272 Regulations as to procedure etc U.K.

(1) This section applies to VCT relief and relief for which the following provide—

(a) section 151A of TCGA 1992 (VCTs: reliefs),

(b) Schedule 5C to TCGA 1992 (VCTs: deferred charge on re-investment),

(c) Chapter 5 of Part 6 of ITTOIA 2005 (VCT dividends), and

(d) regulations under Chapter 5 of this Part.

(2) The Treasury may by regulations make such provision as they consider appropriate for—

(a) giving effect to relief to which this section applies, and

(b) preventing such relief from being given unless a claim is made in accordance with the regulations and such other requirements as may be imposed by the regulations have been met.

(3) Regulations under this section may make provision as to the manner in which, and the persons by whom, relief to which this section applies is to be claimed.