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HMRC internal manual

Venture Capital Schemes Manual

Introduction to the Venture Capital Schemes: Overview and background: the Venture Capital Relief Team

HMRC administers the tax-advantaged venture capital schemes mainly through a specialist Venture Capital Relief (VCR) Team that deals with:

  • enquiries from companies about the conditions of the EIS, SEIS, SITR and the VCT scheme,
  • requests from companies for informal advance clearance that they will meet the requirements of EIS, SEIS and VCT schemes,
  • statutory applications from companies under the EIS and SEIS, and
  • the statutory approval of companies as VCTs
  • companies granting options under Enterprise Management Incentives (‘EMI’). However the provisions of EMI are not dealt with in this manual but in the Employee Tax Advantage Share Schemes User Manual (ETASSUM50000).

The VCR Team does not deal with claims by investors to income tax/capital gains reliefs under any of the three schemes, and claims to Shares Loss Relief - these are dealt with by the tax office dealing with the claimant.

If you have a query that is not covered by the guidance in this manual you can contact the VCR Team:

by email: enterprise.centre@hmrc.gsi.gov.uk (see VCM2035 for guidance on the risks of using email)

by writing to them:

Venture Capital Relief Team

HM Revenue and Customs

WMBC

BX9 1BN

or you can also leave a telephone message to request a call back from the VCR Team: 0300 123 3440