VCTs

Copyright © 2026 LexisNexis

FORTHCOMING CHANGE: call for evidence on tax support for entrepreneurs: At Budget 2025, the government published a call for evidence on the impact of existing tax incentive schemes and options to provide further support for entrepreneurs. The call for evidence, which closed on 28 February 2026, seeks to understand the effectiveness of the current EIS and VCT schemes, to explore potential new ways to support scaling companies that have reached the VCT and EIS limits and to gather evidence about how tax policies might seek to encourage different types of investors.

Like the enterprise investment scheme (EIS), the venture capital trust (VCT) regime is designed to encourage investment in smaller, higher-risk trading companies.

A VCT is a company (not a trust), approved by HMRC, whose shares are admitted to trading in such a way that they meet the listing condition explained in Practice Note: VCTs—VCT conditions for HMRC approval—The listing condition.

Individuals can benefit from a range of tax reliefs, and spread their investment risk, by subscribing for (or, in the case of some of those reliefs, buying) shares in a VCT, which, in

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Existing user? Sign-in TAKE A FREE TRIAL
Powered by Lexis+®
Latest Tax News

Tax weekly highlights—11 June 2026

This week's edition of Tax weekly highlights includes: (1) new guidance on remote hearings in the First-tier Tax Tribunal and the Upper Tribunal (Tax...

FTT supports HMRC denial of goodwill on incorporation of LLP (WWM (Harrogate) LLP v HMRC)

Tax analysis: In WWM (Harrogate) LLP v HMRC, the First-tier Tax Tribunal (FTT) decided that a partner in an LLP had no goodwill which he could...

FTT rules that umbrella workers’ fixed-period assignments were separate employments, denying travel expense deductions (MyPay Limited v HMRC)

Tax analysis: In MyPay Limited v HMRC, the First-tier Tax Tribunal (FTT) dismissed an umbrella company’s appeals against PAYE determinations and NICs...

FTT allows appeal against transfer pricing information notice seeking US parent company accounts (Lifeplus Europe Ltd v HMRC)

Tax analysis: In Lifeplus, the First-tier Tax Tribunal (FTT) allowed the taxpayer’s appeal against HMRC’s Schedule 36 information notice which...

View Tax by content type :  
News
Practice notes
Precedents
Q&As

Popular documents

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin
Late payment penalties—inheritance tax

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application

Glossary—Latin legal terms

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin