VCM60340 - VCT scheme: general: applications for approval: informal application for provisional approval

ICTA88/S842AA (4)(a)

When provisional approval is granted some of the ITA/S274(2) conditions (see VCM60120) are applied by reference to the company’s accounting period which is current when the application is made, or its next accounting period.

Companies seeking provisional approval as a VCT may make an informal application in advance and submit a formal application after the beginning of their first accounting period. CT&VAT will indicate in response to the informal application whether approval will be granted when formal application is made.