Commentary

D8.342 Claiming investment relief

Corporate tax
Corporate tax | Commentary

D8.342 Claiming investment relief

Corporate tax | Commentary

D8.342 Claiming investment relief

In brief, the statutory procedure for claiming investment relief is as follows1:

  1.  

    •     the issuing company supplies HMRC with a compliance statement, which gives details about the pre-conditions of the relief in so far as they do not relate to the investing company

  2.  

    •     if HMRC are satisfied with that statement, they issue the issuing company with a blank compliance certificate

  3.  

    •     the issuing company completes the compliance certificate, which it then sends to the investing company

  4.  

    •     if the investing company considers itself to be a qualifying investing company under the corporate venturing scheme rules, it claims investment relief on its self-assessment tax return

Compliance statements

The issuing company sends to HMRC's Corporate Venturing Scheme Unit a statement that the requirements for investment relief in respect of the shares concerned, so far as they do not relate to the investing company, are satisfied at all times since the shares were issued2.

The statement must be in a form prescribed by HMRC and must include such information as they may reasonably require. This may include information as to the companies which have subscribed for shares and confirmation that such shares were subscribed

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