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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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VCT: investor CG deferral relief: bonus issues and share reorganisations

TCGA92/S151B(2)

VCM53310 and VCM53320 deal with two specific cases, rights issues and the take-over of a VCT company by a non VCT company. The general rule for share reorganisations is in TCGA92/S151B(2). This will apply to bonus issues and share exchanges where a VCT company takes over another VCT company. If a taxpayer owns shares which fall into more than one of the categories in VCM53300 the share reorganisation provisions will apply separately to each category.