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HMRC internal manual

Venture Capital Schemes Manual

HM Revenue & Customs
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Introduction to the Venture Capital Schemes Manual: what is the Venture Capital Schemes Manual?

The Venture Capital Schemes Manual (VCM) contains HM Revenue and Customs guidance on a group of schemes known collectively as the venture capital schemes. These are the:

  • Enterprise Investment Scheme (EIS)
  • Seed Enterprise Investment Scheme (SEIS)
  • Venture Capital Trusts (VCT)
  • Share Loss Relief (previously called ‘VC Loss Relief’)
  • Corporate Venturing Scheme (CVS)

These schemes are grouped together because they have similar aims and have certain legislative features in common. See VCM2000 for the background to these schemes.

CVS has ceased for new investments made after 31 March 2010. Investments made before that date continue to attract relief as long as the relevant conditions are met for the qualification period.