Updates: Venture Capital Schemes Manual
2024
Link to CG99998 replaced with 'Contacting Us page on the Capital Gains Network SharePoint site'
2023
SEIS: income tax relief: issuing company: gross assets requirement
SEIS limits amended in line with Spring Budget 2023
VCT: investor CG disposal relief: share pooling: example
Minor formatting update for accessibility
EIS: deferral relief: shares issued on or after 6 April 1998: identification of disposals: examples
Minor formatting update for accessibility
Corrected the link to compliance statement SEIS1
Corrected the link to compliance statement SEIS1
Corrected the link to the Compliance Statement SEIS1
Corrected the Compliance Statement SEIS1
Corrected the link to VCR Team
2022
Venture Capital Schemes Manual: venture capital schemes: advance assurance requests: overview
The old i-form application and download and email approach under the EIS, SEIS and VCT has been replaced by an online G-Form for advance assurance application.
Social Investment Tax Relief applications for an advance assurance, including all necessary attachments, must be sent to the Venture Capital Reliefs (VCR) Team
The old i-form application and download and email approach under the EIS, SEIS and VCT has been replaced by an online G-Form for advance assurance application.
The old i-form application and download and email approach under the EIS has been replaced by an online G-Form for advance assurance application.
The old i-form application and download and email approach under the SEIS has been replaced by an online G-Form for advance assurance application.
The old i-form application and download and email approach under the SEIS has been replaced by an online G-Form for advance assurance application.
Page archived no longer applicable
Page archived no longer applicable
Page archived no longer applicable
Page archived no longer applicable
Page VCM60180 archived no longer applicable
The old i-form application and download and email approach under the VCT has been replaced by an online G-Form for advance assurance application.
Enterprise Investment Scheme: overview of EIS reliefs
Guidance updated
Seed Enterprise Investment Scheme : Overview of SEIS reliefs
Guidance updated
VCT: overview of the VCT scheme
Guidance updated
Link to access the Compliance statement form EIS1(VCS) has been corrected.
Reference to for VCSEIS1 removed and Form EIS(VCS) added to the page
Reference to form VCSSEIS1 removed and SES1(VCS) added
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
Venture Capital Schemes: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Venture Capital Schemes Manual: recent changes
Page archived – Old legacy update page no longer required.
Page archived – Old legacy update page no longer required.
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
Recent changes to this guidance
Page archived – Old legacy update page no longer required.
2021
EIS: deferral relief: shares issued on or after 6 April 1998: identification of disposals: examples
Guidance updated
EIS: deferral relief: shares issued on or after 6 April 1998: pre-arranged exits
guidance updated
Guidance updated
appeal should be within 30 days from the date of this notice not receipt of notice.
Amending 30 days from the receipt of the notice.
Updated to reflect that condition D was repealed for share disposals made on or after 24 January 2019.
Share Loss Relief: background: statutory history
Updated to reflect that qualifying trading company condition D was repealed for share disposals made on or after 24 January 2019
Share Loss Relief: definitions: A to R
Updated to reflect that qualifying trading company condition D was repealed for disposals made on or after 24 January 2019
Updated to reflect that qualifying trading company Condition D was repealed for share disposals made on or after 24 January 2019
Share Loss Relief: individual and corporate claimants: corporate claimants: other relevant guidance
Updated to remove a broken link and to reflect that qualifying trading company condition D was repealed for share disposals made on or after 24 January 2019
Clarifying the guidance relating to excluded activities in Venture Capital Schemes relating to the financial sector.
Venture Capital Schemes: risk-to-capital condition: examples of how the condition may apply
Amending example 3 to clarify the example.
EIS: income tax relief: general requirements: advance subscription agreements
Clarifying the guidance for Advance Subscription Agreements
2020
The Enterprise Investment Scheme Approved Fund is now only for the Enterprise Investment Scheme Knowledge-intensive approved investment fund as nominee.
Introduction to EIS income tax relief: eligibility for EIS relief
Guidance on claims for income tax relief for 'joint subscribers' made clearer
Added guidance for a company completing form EIS3 for joint subscribers
Amended the post code for VCR Team address
VCT: VCT returns: how to make a return of information under Regulation 22 and 22A
Minor update on new user accessing SDES
2019
SEIS: income tax relief: general requirements: contents
New Guidance on advance assurance subscriptions
EIS: income tax relief: general requirements: contents
EIS guidance on advance subscription agreements
SEIS: income tax relief: issuing company: financial health requirement
Updated in line with legislation and EU guidelines
VCT: VCT qualifying holdings: financial health requirement
Bringing the guidance in line with legislation and EU guidelines.
Replaced bullet points of information needed with a link to the EIS Checklist
Bullet list of information needed with advance assurance application replaced with a link to the SEIS Checklist. All links now working.
Bullet list of information required replaced by link to the SITR Checklist.
Bullet list of information needed replaced with a link to the VCT Checklist.
EIS: deferral relief: shares issued on or after 6 April 1998: claims procedure
Bringing guidance up to date with current legislation.
VCT: VCT qualifying holdings: requests for advance assurances: information needed
VCT qualifying holdings advance assurance guidance moved to VCM60400+
VCT: VCT qualifying holdings: requests for advance assurance: dealing with applications
VCT qualifying holdings advance assurance guidance moved to VCM60400+
VCT qualifying holdings advance assurance guidance moved to VCM60400+
VCT qualifying holdings advance assurance guidance moved to VCM60400+
VCT: VCT qualifying holdings: requests for advance assurance: responding to applications
VCT qualifying holdings advance assurance guidance moved to VCM60400+
VCT: VCT qualifying holdings: requests for advance assurances: overview
VCT qualifying holdings advance assurance guidance moved to VCM60400+
Venture Capital Schemes: Latest updates in the venture capital scheme manual: What’s new
Page is being archived as replaced by VCM2000
Venture Capital Schemes Manual: venture capital schemes: advance assurance requests: contents
Correcting the publishing
correcting publication
Guidance updated in line with FA2018-19 changes
correcting publication.
Formatting correction
correcting title
Guidance has been updated to bring this in line with legislation to FA2018.
Bringing the guidance in line with current legislation (FA2018-19)
Bringing the guidance in line with current legislation, FA2018-19
Bringing the guidance in line with current legislation FA2018-19. The advance assurance guidance has been moved to VCM60000+
The content and updated guidance to this page has been moved to VCM60000+
Bringing the guidance in line with current legislation - FA2018-19. The advanced Assurance guidance has now moved to VCM60000+
Bringing the guidance in line with current legislation - FA2018-19. Advance assurance guidance has been moved to VCM60000+
Bringing the guidance in line with current legislation - FA2018-19. Advance assurance guidance moved to VCM60000+
Bringing the guidance in line with the current legislation - FA2018-19. Advance assurance guidance moved to VCM60000+
Bringing the guidance in line with current legislation - FA2018-19.
Updated the guidance in line with current legislation - FA2018-19
Updating guidance in line with current legislation to FA2018-19
Updating the guidance in line with current legislation - to FA2018-19
Updating the guidance in line with current legislation to FA2018-19
Updating guidance in line with current legislation to FA2018-19
Updating guidance in line with current legislation to FA2018-19
Updating guidance in line with current legislation to FA2018-19
Updating the guidance in line with current legislation to FA2018-19
Bringing guidance in line with current legislation FA2018-19
Updating the guidance in line with current legislation to FA 2018-19
EIS: income tax relief: company and investor procedures: investor claims: refusal of claims
The content is now in VCM14180
EIS: company and investor procedures: obligation to notify HMRC of disqualifying events
The guidance has been moved to VCM14190
Updating the guidance in line with current legislation changes to FA2018-19
Updated this guidance to current legislation to FA2018-19.
Updated guidance to current legislation to FA2018-19 - AA guidance separated to VCM60000+
Updated guidance in line with current legislation to FA2018-19. AA separated to VCM60000+
Contents moved to VCM60230. updated to FA2018-19
Updating guidance bringing this in line with current legislation to FA2018-19.
Advance Assurance guidance has been moved to VCM60200+
Updating the guidance in line with current legislation to FA2018-19.
Advance Assurance guidance has been moved to VCM60200+
Updating the guidance in line with current legislation to FA2018-19.
Advance Assurance guidance has been moved to VCM60200+
Updating the guidance in line with the current legislation to FA2018-19.
Advance Assurance guidance guidance has been moved to VCM60200+
Updating the guidance in line with current legislation to FA2018-19.
Advance Assurance guidance separated to VCM60200+
Updating the guidance in line with current legislation to FA2018-19.
Advance Assurance guidance separated in VCM60200+
Guidance brought in line with FA2018-19.
Updating the guidance in line with current legislation to FA2018-19.
Updating the guidance in line with current legislation to FA2018-19.
Updating the guidance in line with current legislation to FA2018-19.
Amended title
Updating guidance in line with current legislation to FA2018-19
Updating the guidance in line with current legislation to FA2018-19
SEIS: company and investor procedures: investor claims: refusal of claims
Guidance now in VCM35160
SEIS: company and investor procedures: obligation to notify HMRC of disqualifying events
Guidance now in VCM35180
SEIS: income tax relief: company and investor procedures: contents
Amendments to the Chapters. Removing all advance assurance guidance to be included in new chapter VCM60000+
Amended the guidance to include a link to contacting the VCR Team by email to complete and submit the email disclaimer template.
SEIS: company and investor procedures: investor claims: action after receipt
Updating the guidance in line with current legislation FA2018-19.
added page, review date amended
Venture Capital Trusts: VCT returns: details in the return
amended review date
VCT returns: Identifying investments funded by different issues of shares
Updating the guidance to include all legislative changes made to VCT Returns
VCT returns: identifying investments funding by different issues of shares: protected money
Bringing the guidance in line with the legislation to date and improving the guidance on mandatory requirements for VCT returns.
VCT returns: identifying investments funding by different issues of shares: completing the return
Updating the guidance to include all legislative changes to date and improving guidance to complete mandatory VCT return.
VCT: VCT returns: identifying investments funded by different issues of shares: further issues
Guidance brought in line with all legislation to date and improving guidance on completing mandatory VCT return.
VCT: VCT returns: identifying investments funding by different issues of shares: record keeping
Bringing the guidance in line with legislation to date and improving the guidance on mandatory requirements for VCT Returns.
Updated the guidance in line to include all legislative changes to date and improving guidance to complete mandatory VCT return.
Venture Capital Trusts: VCT returns: return of amounts subscribed for eligible shares
Updating the guidance to include all legislative changes to date and improving the guidance to complete mandatory VCT return.
Updating the guidance to include all legislative changes to date and improving guidance to complete mandatory VCT return.
Venture Capital Trusts: VCT returns: general information and investments
Bringing the guidance in line with the legislation to date and improving the guidance on mandatory requirements for VCT Returns.
EIS: income tax relief: the issuing company: financial health requirement
Guidance updated to reflect 2014 General Block Exemption Regulation
Venture Capital Schemes: risk-to-capital condition: the two parts of the risk-to-capital condition
correcting format and adding hyper-link
Introduction to EIS income tax relief: form and amount of EIS relief
Added hyperlink
EIS: income tax relief: the issuing company: gross assets requirement
Updaing the guidance and correcting the format of content being duplicated on Gov.uk
SEIS: income tax relief: issuing company: gross assets requirement
Accounting practices updated using IFRS practices
VCT: VCT qualifying holdings: gross assets test
Updated accounting practices for IFRS and deleted duplicated text taht apperas on Gov.uk VCM guidance
2018
Venture Capital Schemes: Latest updates in the venture capital scheme manual: contents
updating the introduction to improve customer journey
Introduction to the Venture Capital Schemes: Overview and background: contents
Added items to menu
Venture Capital Schemes: Latest updates in the venture capital scheme manual: what's new
Text moved from VCM1020 to VCM1010
Introduction to the Venture Capital Schemes manual: improving the Venture Capital Schemes manual
most of the guidance is outdated and some incorporated in VCM2000
Most of the guidance is outdated and some incorporated
Venture Capital Schemes: Latest updates in the venture capital scheme manual: What’s new
Guidance improved and brought up to date to include FA2018-19 changes
Guidance has been updated in VCM2000
Introduction to the Venture Capital Schemes Manual: how to use the Venture Capital Schemes Manual
The guidance has been incorporated in VCM2000
Introduction to the Venture Capital Schemes: Overview and background: the Venture Capital Schemes
Bringing the guidance upto dtae to FA2018-19 changes. Improving the custommer jpourney in using the guidance.
Bringing the guidance in line with FA2018-19 changes
Guidance has been updated and improved to bring it in line toFA2018 changed
Introduction to the Venture Capital Schemes: Overview and background: State aid implications
Improving the VCS Manual to bring it in line with changes upto FA2018
Introduction to the Venture Capital Schemes: Overview and background: feedback on the manual
Improving the guidance, bringing it in line to FA2018 changes
The guidance has been improved and brought upto date to FA2018 changes
Introduction to the Venture Capital Schemes: Overview and background: abbreviations used
The guidance has been improved to bring the content up to date
Corresponding by email identifying risks and obligations
Venture Capital Schemes: funding limits for investee companies: Overview
Changes made in line with commencement regulations made on 9/8/2018.
EIS: income tax relief: general requirements: meaning of 'knowledge-intensive company'
Changes made in line with commencement regulations published on 9/8/2018.
EIS: income tax relief: supplementary and general: contents
Guidance in line with FA2018 changes
VCT: VCT approval: investment limits condition
In line with FA2018 changes
VCT: VCT approval: maintaining approval: where provisional approval given
In line with FA2018 changes
In line with FA2018 changes
VCT: VCT qualifying holdings: employment of money raised
Guidance in line with FA2018 changes
VCT: VCT qualifying holdings: employee numbers requirement
Guidance in line with FA2018 changes
VCT: VCT qualifying holdings: contents
Guidance update in line with FA2018 changes
Guidance in line with changes to FA2018, and new pages created
Venture Capital Schemes: risk-to-capital condition: an overview of the risk-to-capital condition
Guidance in line with commencement regulations published on 9/8/2018
Venture Capital Schemes: the changes in detail: knowledge intensive companies: contents
Guidance in line with commencemnt regulations oublished on 9/08/2018
Guidance in line with commencement regulations published 9/8/2018
Venture Capital Schemes: funding limits for investee companies: Overview
The cahnges are in line with the commencement regulations published on 9/8/2018
Guidance in line with the commencement rules published on 9/8/2018
Guidance in line with the commencement regulations published on 9/8/2018
Venture Capital Schemes: knowledge intensive companies: the operating costs conditions
Guidance in line with the commencement regulations published on 9/8/2018
Venture Capital Schemes: Venture Capital Trusts
Guidance in line with commencement regulaions published on 9/8/2018
Guidance in line with commencement regulations published on 9/8/2018.
Excluded activities: shipbuilding
Guidance incorporating all changes upto FA2018 changes
Excluded activities: producing coal
Guidance updated incorporating changes upto FA2018.
Excluded activities: producing steel
Guidance updated incorporating changes to FA2018 changes.
Introduction to EIS income tax relief: form and amount of EIS relief
Guidance updated to FA2018 changes.
Guidance updated incorporating chnages to FA2018.
VCT: VCT approval: conditions for full approval
Guidance in line with FA2018 changes
VCT: VCT approval: conditions for provisional approval
Guidance updated to FA2018 changes
VCT: VCT approval: 70% qualifying holdings condition
Guidance updated to FA2018 changes
VCT: VCT approval: 30% or 70% eligible shares condition
Guidance updated to FA2018 changes
Excluded activities: all energy generating activities and creating fuel
Amended in line with legislation
Venture Capital Schemes: risk-to-capital condition: introduction to the risk-to-capital condition
Updated guidance after consultation on the published draft guidance.
Venture Capital Schemes: risk-to-capital condition: an overview of the risk-to-capital condition
Updated guidance after consultation on the draft guidance
Venture Capital Schemes: risk-to-capital condition: the two parts of the risk-to-capital condition
Updated after consultation on the draft guidance.
Venture Capital Schemes: risk-to-capital condition: factors to be considered
Guidance amended after consultation on the draft guidance
Venture Capital Schemes:risk-to-capital condition: advance assurance and compliance checks
Guidance amended after consultation on the draft guidance
Venture Capital Schemes: risk-to-capital condition: examples of how the condition may apply
Guidance amended after consultation on the draft guidance.
Venture Capital schemes: risk-to-capital condition: about the guidance
Draft Risk to capital guidance updated to final version
Venture Capital Schemes: Risk-to-capital condition: contents
Guidance amended after consultation on the draft guidance.
Guidance amended in line with Finance Act 2018
VCT: VCT approval: definition of ‘securities’, and references to a company’s investments
Guidance amended in line with Finance Act 2018 changes
VCT: VCT qualifying holdings: requests for advance assurances: overview
Updated current procedures on Advance Assurance requests for VCTs.
VCT: VCT qualifying holdings: requests for advance assurances: information needed
Changes to the VCT guidance on information needed when companies apply for advance assurance requests
VCT: VCT qualifying holdings: requests for advance assurance: dealing with applications
Update guidance for VCT advance assurance applications 'information needed' with the application form.
Updated VCT guidance on circumstances when HMRC is not bound by the advance assurance given
Update on guidance when HMRC will not give an advance assurance for applications under the VCT.
VCT: VCT qualifying holdings: requests for advance assurance: responding to applications
Update on the VCT guidance on HMRC responding to advance assurance applications.
Updated EIS advance assurance application guidance.
Updated guidance for EIS advance assurance applications.
Updated guidance on the information needed when applying for the EIS advance assurance.
Updated guidance for the EIS outlining when HMRC will not be bound by the advance assurance given
Updated guidance on when HMRC will not give an advance assurance applications under the EIS
Updated guidance on HMRC responding to the EIS advance assurance applications.
Updated guidance for SEIS advance assurance
Updated guidance on information needed under the SEIS when applying for advance assurance.
Updated guidance on when HMRC will not be bound by the advance assurance given under the SEIS
Updated guidance on when HMRC will not give an advance assurance under the SEIS
Updated guidance on HMRC responding to SEIS advance assurance applications.
SEIS: income tax relief: company and investor procedures: contents
Updated guidance for SEIS advance assurance applications.
VCM8300 removed from menu
Venture Capital Schemes: Advance assurances and EIS1 applications
Archived and unpublished
2017
Updated for procedural changes.
Updated for new procedural requirements.
deleting the text in the body so that the links show
Venture capital Schemes: the changes in detail: funding limits for investee companies: contents
Removing text in the body leaving the links visible
Removing the text in the body so links are directly visisble
activated the link to VCM8154 & 8155
activated the links to VCM 8158 & 8160
activated the links to the VCM
activated the link to VCM8154
Venture Capital Schemes: the changes in detail: knowledge intensive companies: contents
Deleted text in the body so links are visible
2016
Seed Enterprise Investment Scheme (SEIS): re-investment relief: introduction
Amended to reflect legislative changes
EIS: general requirements: spending of SEIS money
Updated to reflect legislative change