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VCT - Coggle Diagram
VCT
Qualifying companies
approved by HMRC
cannot be closed
any stock exchange w/in EEA
income from shares or securities only
80% of value in qualifying unlisted trading cos
company to have
no more than £15m
before investment
less than £16m
after
fewer than 250 full time employees
less than 7 years old
Tax Relief
Income Tax relief at 30%
up to £200,000 per tax year
newly issued ordinary shares
withdrawn if shares disposed
w/in 5 years
unless spousal/CP disposal
given by means of income tax reduction
like EIS relif
dividends from investments in VCTs
up to £200,000 tax free
exempt from CGT when dispose of VCT shares.
no min period to be held
companies similar to IT
must invest in unlisted trading compnaies
cannot defer CGT
by reinvesting in VCT shares