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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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CVS: investors and reliefs: non-financial activities requirement: general

FA00/SCH15/PARA10

A qualifying investing company must, throughout the qualification period, satisfy a requirement relating to its business unless it is a member of a group, in which case the group must satisfy a requirement relating to the activities of the whole group. The terms of the requirement depend on whether it is:

  • a single company, that is, one which is not owned by another company and does not have any subsidiary (see VCM91140),
  • a parent company, that is, one which is not owned by another company and has one or more subsidiaries (see VCM91150),
  • a company which is a member of a group but is not the parent company (see VCM91160).