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HMRC internal manual

Venture Capital Schemes Manual

CVS: investors and reliefs: withdrawal of investment relief: time limits


Where an assessment is required because of an event occurring after the date when relief is obtained, it may be made at any time within 6 years after the end of the accounting period in which that event occurs. In the case of an assessment required because of a failure to employ the money raised within the time allowed (see VCM90140) this means the accounting period in which the time allowed expired.

A discovery that the relief obtained was excessive or should not have been claimed is not an ‘event’ for this purpose. In the case of such a discovery, normal time limits apply.