The following Corporation Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
CVS allows corporate investors to obtain tax relief on qualifying investments in unquoted trading companies. The scheme has many similarities to the Enterprise Investment Scheme (EIS) for individual investors. CVS is no longer available for investments made on or after 1 April 2010 however it is still important to understand the rules. In particular, CVS companies may require tax advice in respect of the following:
The following tax reliefs are available under CVS:
Unlike EIS, there is no upper limit on the amount of investment for which relief is available.
The reliefs are covered in more detail below.
Certain conditions must be satisfied throughout the qualification period of the shares both by the investing company (ie the company acquiring the CVS shares) and the issuing company (ie the company issuing the new shares to the investors).
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