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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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EIS: taper relief for serial investments: VCT investments: Taper relief does not apply to gains accruing or treated as accruing after 5 April 2008

If the deferred gain is revived on the disposal of shares in the second EIS company and is then deferred under TCGA92/SCH5C in respect of a VCT investment the qualifying holding period ends when the shares in the second EIS company are disposed of.

VCT deferral relief is abolished in respect of shares issued after 5 April 2004.