VCM69020 - VCT: winding-up: prescribed winding-up period
SI2004/2199 Regulation 2
The modification of the VCT scheme tax rules for a
VCT-in-liquidation and its investors provided for by SI2004/2199
regulations 3 - 8 (
VCM69010) is restricted to the
prescribed winding-up period of the
VCT-in-liquidation.
The prescribed winding-up period is the period:
- beginning with the commencement of the company’s winding up, and
- ending with the earliest of:
- the end of the company’s winding up
- the company ceasing to be wound up
- the dissolution of the company
- the third anniversary of the commencement of the company’s winding up.
The regulations do not define the time at which a winding-up commences or ends. A winding up should be regarded as commencing on the passing by the company of the relevant resolution, or if there is no such resolution, on the presentation of a winding up petition (if successful), or on the doing of any act for similar purpose.
