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HMRC internal manual

Venture Capital Schemes Manual

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HM Revenue & Customs
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Share Loss Relief: how to use the guidance: introduction

The background (VCM70100+) and definitions (VCM71000+) introduce the principles of Share Loss Relief, explain how it has developed over the years and provide a glossary of commonly used terms. The rest of the guidance on Share Loss Relief aims to support a detailed review and technical analysis of an actual claim to relief. It reflects the statute in that, because individuals and companies are subject to the ITA 2007 and the CTA 2010 respectively, there are separate parts for individual and corporate claimants. However, the rules and conditions for the two types of claimant are very similar and in this guidance more detail is given for individuals. The paragraphs on company claimants (at VCM77000+) highlight the differences.

In order to use the guidance effectively, you will need to know certain basic facts about the claim. These are explained in the following paragraphs.