It is possible for an investor to own VCT shares which attract different types of tax relief or no tax relief at all. TCGA92/S151B (3) divides these into the 4 categories below.
| Disposal relief | Deferral relief | ||
| (a) | Y | Y | |
| (b) | Y | X | |
| (c) | X | Y | |
| (d) | X | X |
Y indicates shares eligible for relief.
X indicates shares not eligible for relief.
The reference to deferral relief means shares issued on or
before 5 April 2004 on which the investor has been given or is
entitled to claim ‘front-end' Income Tax relief on
investment. These are the shares which will give an entitlement to
claim CGT deferral relief.
VCT deferral relief is abolished for shares issued after 5
April 2004.
