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HMRC internal manual

Venture Capital Schemes Manual

CVS: investors and reliefs: organisation of work

As can be seen from VCM91020 and VCM91030 above, much of the CVS work is handled by the Small Company Enterprise Centre.

However, Inspectors deal with the following matters in local offices:

  • dealing with claims to investment relief,
  • monitoring the status of the investing company during the qualification period,
  • withdrawing relief where either that company or the issuing company ceases to satisfy the rules applying to it,
  • dealing with claims to loss relief (see VCM92020),
  • dealing with claims to deferral relief (see VCM93030).

If a company whose tax affairs are dealt with in its local office has been authorised to issue a compliance certificate the Small Company Enterprise Centre will inform the local office and instruct as regards the transfer of the papers to the Centre.