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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Entrepreneurs’ Relief: trading company and holding company of a trading group - investments in shares under the Corporate Venturing Scheme (CVS)

Investments in shares made under the CVS are investments like any others and the holding of such shares is unlikely to count as a trading activity in its own right. However, the CVS works in such a way that a company that qualifies for CVS investment relief is unlikely to have more than the 20% non-trading activity that would stop it being a trading company for Entrepreneurs’ Relief purposes.

Detailed guidance on the CVS is at VCM50010 onwards.