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HMRC internal manual

Venture Capital Schemes Manual

HM Revenue & Customs
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VCT: investor CG deferral relief: which individuals qualify?


To qualify for relief the investor must be resident or ordinarily resident in the UK at the date the gain accrued and on the date they subscribed for the shares. They could not claim relief if:

  • they were also treated as resident in another country by virtue of double taxation relief arrangements, and
  • they would not be liable to CGT if the VCT shares were immediately sold at a gain (ignoring for this purpose CGT disposal relief for VCT shares).