VCT: VCT returns: details in the return
SI1995/1979 Regulation 22
For each accounting period, or part of accounting period, for which the company was approved as a VCT, the return must provide the following details:
- the value (see VCM54160) of each investment held at the beginning of the period;
- the dates and valuations of any new investments made in the period together with revaluation if appropriate (see VCM58030 for investments funded by a further issue of shares by a VCT);
- where investments are disposed of the names and addresses of the companies concerned together with the dates of disposal and the value of the remainder of the holding if was not disposed of entirely;
- in respect of each investment whether it is a qualifying holding (see VCM58040 for investments funded out of protected money); and
- in respect of each qualifying holding, the name and address of the company invested in.
The return must be signed by the secretary or a director of the VCT who must:
- certify that the VCT met the conditions for approval (VCM54020 for full approval or VCM54030 for provisional approval) throughout the period or has ceased to be approved; and
- declare that the return is, to the best of the VCT’s knowledge and belief, true and correct.
Penalties may be charged under TMA70/S98 for failure to make a return or for making an incorrect return.