beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Venture Capital Schemes Manual

CVS: general: qualifying issuing companies: gross assets


The ‘gross assets’ of the issuing company must not exceed a certain amount immediately before the issue of the shares. See VCM13110 for those limits. In the case of a company with a subsidiary, these limits apply to the aggregated gross assets of all the companies in the group (excluding shares in, and loans to, the subsidiaries).

All forms of property that appear in a company’s balance sheet are assets for the purpose of this rule.

The Board have issued a statement of practice indicating that for the purpose of this rule we will determine the value of an asset by reference to the value shown in the company’s balance sheet - see Statement of Practice SP2/06.