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HMRC internal manual

Venture Capital Schemes Manual

CVS: investors and reliefs: investment relief: examination of claims

Where a claim to investment relief is made, the Inspector may wish to check that the company is a qualifying investing company in relation to that investment. The rules that it needs to satisfy are set out at VCM91050 onwards. If after due consideration of the claim the Inspector forms the view that the company does not qualify, and is unable to resolve the matter by correspondence, a formal refusal of the claim should be issued.

Where a claim is accepted (whether after checking it or not) form CVS4 should be completed in duplicate and the top copy sent to the Small Company Enterprise Centre Inspector dealing with the issuing company. This form is available through the Letters and Forms on Computer (LFC) system.

Details of the investment and the qualification period related to it should be recorded in the Permanent Notes pad.