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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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VCT: VCT approval: applications for approval: provisional approval

SI1995/1979 Regulation 3(4)

Applications for provisional approval should contain:

  • details of the company’s stock exchange listing (or its plans for obtaining listing);
  • a copy of the company’s latest accounts, or where it is a new company, a current statement of affairs or balance sheet;
  • an up to date Memorandum and Articles of Association and details of any proposed changes;
  • a copy of any draft prospectus or similar document to be issued to prospective investors;
  • a business plan describing how the company proposes to meet the conditions at ITA07/S274(2) by the accounting periods set out in VCM54030; and
  • the address of the company’s registered office, and its tax office and tax reference number (if applicable).

There is no need to duplicate information. If, for example, a business plan describing how the company proposes to meet the conditions atITA07/S274(2) is included in the draft prospectus there is no need to supply a separate plan.