VCM60710 - Venture capital trust (VCT) scheme: General: Return of amounts subscribed for eligible shares - format of return
Magnetic media returns
VCTs may if they wish make a return on magnetic media. Data will be accepted on
- CD
- DVD
- Floppy Disc
- 34/80 or 34/90 Cartridge
- LTO Tape (1,2 or 3)
- USB Sticks
- DLT Tapes
Files must be in ASCII/EBCDIC. The content of files should conform with theVCT magnetic media specification
Please also see our latest guidance on Data Security and Security of Returns. AR Audit can also provide technical assistance on making magnetic media returns.
Either ring 0151 472 6165 or 6175 or alternatively e-mail savings.audit@hmrc.gsi.gov.uk
VCTs will be sent a submission document and labels shortly before the return is due. Instructions on the submission of returns are included in the VCT Magnetic Media Specification.
VCTs should submit their returns of information to the Centre for National Information (CNI) at:
HM Revenue & Customs Financial Institutions Returns Management
Centre for National Information
Ty Glas Road
Llanishen
Cardiff
CF14 5ZG
Telephone 029 2032 7373
Magnetic media returns for testing can be sent, by arrangement, to CNI at the above address:
Paper returns
If VCTs are unable to submit the return of information on magnetic media, the return should be made on a form VCT100. VCTs should also use a form VCT100 to return details of each subscription which is not included on a return made on magnetic media. These should be submitted along with the return made on magnetic media.
Form VCT100 is available, on request, from the St Austell orderline on 0845 900 0404. The orderline only provide the forms. Guidance on their completion is available from CAR Audit:
- either ring 0151 472 6165 or 6175
- or e-mail savings.audit@hmrc.gsi.gov.uk.
Penalties
Penalties may be charged under TMA70/S98 for failure to make a return or for making an incorrect return.
