VCM62151 - VCT scheme: qualifying holdings: employment of money raised: initial period

ITA/S293

During the 'initial period' (see VCM62150) the requirement to be satisfied in relation to the money raised is simply that the company, or a subsidiary, intends to employ at least 80% of that money for the purpose of a trade which that company carries on or will carry on, or for research and development (see TS103/2000) intended to lead to a trade. (See VCM12070 and VCM12080 for guidance on this.) There is no requirement that any of the money should have been employed during this period.