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HMRC internal manual

Venture Capital Schemes Manual

VCT: investor CG disposal relief: loss of VCT approval: provisional approval

The CGT consequences for the investor of a company losing its approval as a VCT depend upon whether or not the approval was provisional.

If the approval was provisional and subsequently the company does not satisfy the relevant conditions the company is treated as though it never had VCT status. Thus the investor is not entitled to disposal or deferral relief.