VCM - Recent changes to this Manual
Below are details of the amendments that were published on 28 July 2006 (see the update index for all updates)
| Section | Title and details of the update |
| VCM10000 | Introduction: contents.
Table of contents tidied up. |
| VCM10060 | Introduction: work of the
Small Company Enterprise Centre.
SPSS changed to CGT, Solihull at final bullet. |
| VCM10080 | Introduction:
abbreviations used.
Addition of ESC, SA, SP and TB to list. |
| VCM12000 | The investment process:
contents.
Table of contents tidied up. |
| VCM15000 | Investee companies:
contents.
Table of contents tidied up. |
| VCM15070 | Investee companies:
trading companies.
In second sentence of second paragraph ‘dispose of’ replaced by ‘cease’. |
| VCM15100 | Investee companies: gross
assets rule.
Amended to reflect revised limits. Minor changes in second paragraph. |
| VCM17000 | Qualifying trades:
contents.
Table of contents tidied up. |
| VCM20000 | EIS: general: contents.
Table of contents tidied up. |
| VCM20020 | EIS: general: qualifying
business activities.
Out of date material removed by deletion of bullet four and final sentence of penultimate paragraph. |
| VCM25000 | EIS: income tax relief:
contents.
Table of contents tidied up. |
| VCM25410 | EIS: income tax relief:
year for which relief is due.
Example upgraded for FA06. |
| VCM25430 | EIS: income tax relief:
limit on relief.
Revised for changes arising from FA06. |
| VCM25480 | EIS: income tax relief:
claiming relief: shares treated as issued in previous year.
Example upgraded for FA06. |
| VCM26020 | EIS: income tax relief:
relief attributable to shares.
Example upgraded for FA06. |
| VCM26050 | EIS: income tax relief:
transfers between spouses or civil partners.
Both paragraphs expanded for greater clarity. |
| VCM30000 | EIS: disposal relief:
contents.
Table of contents tidied up. |
| VCM32300 | EIS disposal relief:
share exchanges,
First bullet expanded for greater clarity. |
| VCM35000 | EIS: deferral relief:
shares issued before 6 April 1998: contents.
Table of contents tidied up. |
| VCM38000 | EIS: deferral relief:
shares issued on or after 6 April 1998: contents.
Table of contents tidied up. |
| VCM38500 | EIS: deferral relief:
shares issued on or after 6 April 1998: claims procedure.
Minor changes reflecting the way form EIS3 is used. |
| VCM43000 | EIS: taper relief for
serial investments: contents.
Table of contents tidied up. |
| VCM43400 | EIS: taper relief for
serial investments: VCT investments.
New line at ‘VCT deferral relief is abolished in respect of shares issued after 5 April 2004.’ |
| VCM45000 | VC loss relief: general:
contents.
Table of contents tidied up. |
| VCM47000 | VC loss relief: mixed
holdings: contents.
Table of contents tidied up. |
| VCM48000 | VC loss relief: special
rules for share reorganisations: contents.
Table of contents tidied up. |
| VCM49000 | VC loss relief:
companies: contents
Table of contents tidied up. |
| VCM50000 | CVS: general: contents.
Table of contents tidied up. |
| VCM50130 | CVS: general: qualifying
issuing companies: gross assets.
First paragraph amended to reflect revised limits. Minor changes in final paragraph. |
| VCM50300 | CVS: investors and
reliefs: contents.
Table of contents tidied up. |
| VCM55000 | CVS: loss relief:
contents.
Table of contents tidied up. |
| VCM57000 | CVS: deferral relief:
contents.
Table of contents tidied up. |
| VCM60000 | VCT scheme: general:
contents.
Table of contents tidied up and new page VCM60625 added. |
| VCM60010 | VCT scheme: general:
administration, information, & inquiries.
Revised to reflect current administration practice. |
| VCM60020 | VCT scheme: general: what
is a VCT?
Revised to reflect current rates. |
| VCM60600 | VCT scheme: general:
return of investments made by VCT.
Revised to reflect current administration practice. |
| VCM60610 | VCT scheme: general:
return of investments made by VCT: details in the return.
Cross reference to VCM60625 added at fourth bullet. |
| VCM60625 | VCT scheme: general:
return of investments made by VCT: investments funded out of
protected money.
New page. |
| VCM62000 | VCT scheme: qualifying
holdings: contents.
Table of contents tidied up. |
| VCM62020 | VCT scheme: qualifying
holdings: requirements.
Addition of new bullet beginning ‘Money raised after 5 April 2006’ |
| VCM62540 | VCT scheme: qualifying
holdings: liaison with CGT, Solihull.
Revised to reflect current administration practice. |
| VCM64000 | VCT scheme: reliefs:
contents.
Table of contents tidied up. |
| VCM64010 | VCT scheme: reliefs:
summary of investor reliefs.
Revised to reflect abolition of VCT deferral relief. |
| VCM64020 | VCT scheme: reliefs:
'front-end' income tax relief: who can claim relief.
Holding periods revised. |
| VCM64030 | VCT scheme: reliefs:
'front-end' income tax relief: how relief is claimed and
calculated.
Revised for change to relief rate. |
| VCM64080 | VCT scheme: reliefs:
'front-end' income tax relief: assessments and claims cases.
Revised for change to relief rate. |
| VCM64110 | VCT scheme: reliefs:
'front-end' income tax relief: withdrawing relief.
Holding periods revised. |
| VCM64200 | VCT scheme: reliefs:
dividend exemption from income tax.
Years extended for ‘permitted maximum’ in second sentence. |
| VCM66000 | VCT: disposal relief:
contents.
Table of contents tidied up. |
| VCM66050 | VCT: disposal relief:
exemption from CGT.
Years extended for ‘permitted maximum’ at final bullet. |
| VCM66300 | VCT: disposal relief:
acquisitions over permitted maximum.
Years extended for ‘permitted maximum’; example revised. |
| VCM68000 | VCT: deferral relief:
contents.
Table of contents tidied up. |
| VCM68010 | VCT: deferral relief:
introduction.
Revised to reflect abolition of VCT deferral relief. |
| VCM69000 | VCT: winding up:
contents.
Table of contents tidied up. |
| VCM69030 | VCT: winding-up:
‘front-end’ income tax relief.
Holding periods revised and third paragraph substantially revised. |
| VCM69500 | VCT: mergers: contents.
Table of contents tidied up. |
| VCM69540 | VCT: mergers: HMRC
approval: application procedure.
Minor changes throughout to reflect current administration practice. |
