Amendments

Amount of relief

Amount raised annually through risk finance investments requirement

Application and transitional provision

Approval

15 per cent holding condition

70 per cent (formerly 30 per cent) eligible shares condition

70 per cent qualifying holdings condition

70 per cent qualifying holdings condition, disposal of holdings

Appeals to tribunal

Applications for

Breach of conditions for

Conditions for

Eligible shares condition

Generally

Income conditions

Information powers

Investment limits condition

Liability for tax where provisional approval withdrawn

Liquidation

Mergers

Minimum investment on further issue condition

No business acquisition condition

Notice of

Permitted investment limits

Permitted maximum age condition

Provisional

Qualifying holdings and eligible shares, conditions

Refusal

Reporting requirements

Time from when approval has effect

Value of investments, conditions

Winding-up

Withdrawal

Withdrawal of

Capital gains

Chargeable gains

Deferral relief, shares issued pre-6 April 2004

Disposal exemption

Entrepreneurs' relief

Chargeable gains/allowable losses

Conditions to be satisfied

Consequential repeal

Consultation document

Reforms and expansions of tax-advantaged venture capital schemes

Default terms in loan agreements

Deferral relief

Deferral relief where VCT shares issued before 6 April 2004

Chargeable event

Definitions

Derivative contracts

Disposal exemption

Loss of VCT approval

Reorganisations

Share identification

Distributions, exemption from income tax

Dividend exemption

Annual threshold exceeded

Dividends

Part disposals, identification

Qualifying investor

Reorganisations, identification

Share identification

Dividends, exemption from tax

Annual acquisition limit exceeded

Generally

Identification of shares after disposals

Identification of shares after reorganisations etc.

Earn-out shares or securities

Eligibility for relief

Entitlement to claim relief

Entrepreneurs' relief

Exchange of shares and securities

Excluded activities

Coal production

Electricity, subsidised generation or export of

Hotels and comparable establishments

Licences, receipt of

Meaning

Nursing homes and residential care homes

Property development

Provision of services/facilities for other businesses

Royalties, receipt of

Shipbuilding

Ships, leasing of

Steel production

Wholesale and retail distribution

Financial health requirement

First commercial sale condition

No business acquisition condition

Form of relief

Funding of management buy-outs

Generally

Gross assets, value

Groups of companies, transfers within

Income tax relief

Annual claims

Certificate to be given to investor

Claims

Distributions

Dividend exemption

Eligibility for

Eligible shares, meaning

Enduring declarations

Entitlement

Generally

Interim claims

Loan-linked investments

Reporting requirements

Restricting relief of 'linked' sale

Tax credit vouchers

Transfer to spouse or civil partner

Withdrawal

Information to be provided

Interpretation

Intra-group transfers

Investment, relief from income tax

Linked loan, no entitlement to relief

Loan relationships

Loans to investors

Location of activity

Loss of investment relief

Loss of relief

Approval withdrawn

Assessment on withdrawal or reduction of relief

Shares disposed of within 5 years

Transfer of shares between spouses or civil partners

Where subsequently found not to be due

Meaning

Mergers

Generally

Interpretation

Meaning

Power to facilitate

Regulations

Successor company, meaning

No entitlement to relief

Other reliefs

Overview

Pensions contrasted

Permanent establishment

Meaning

Requirement

Permitted maximum, meaning

Provisional approval

Qualifying holding requirements

Qualifying holdings

Acquisition by new company

Administration or receivership, ceasing to meet requirements

Amount raised annually through risk capital schemes requirement

Carrying on a qualifying activity requirement

Certain requirements of Chapter 3 to be treated

Coal production, excluded activities

Control and independence requirement

Conversion of convertible shares and securities

Convertible shares

Disqualifying arrangements

Disqualifying arrangements requirement

Ear-out rights

Eligible shares requirement, proportion of

Employees, number of requirement

Employees, proportion of skilled requirement

Excluded activities

Financial health requirement

Financing management buy-outs

Generally

Gross asset requirement

Gross assets requirement

Hotels and comparable establishments, excluded activities

Interpretation

Knowledge-intensive company

Leasing ships, excluded activities

Maximum amount raised under all risk capital schemes

Maximum qualifying investment requirement

Maximum risk finance investments during the five-year post-investment period

Maximum risk finance investments when relevant holding is issued

No guaranteed loan requirement

Number of employees requirement

Nursing homes and residential care homes, excluded activities

Permanent establishment requirement

Permitted company age requirement

Power to amend Chapters 3 and 4 by treasury

Power to make amendments

Property development, excluded activities

Property managing subsidiaries requirement

Proportion of eligible shares requirement

Proportion of skilled employees requirement

Provision of services or facilities for another business, excluded activities

Qualifying 90 per cent subsidiary, meaning

Qualifying activity requirement

Qualifying subsidiaries requirement

Qualifying subsidiary, meaning

Qualifying trade, meaning

Receipts of royalties and licence fees, excluded activities

Reconstructions

Relevant company to carry on the relevant qualifying activity requirement

Relevant company's qualifying activity

Reorganisations

Reorganisations involving exchange of shares

Requirements list

Risk-to-capital requirement

Share exchanges on formation of holding company

Shares exchanged for others in same company

Shares exchanged for those in another company

Shares issued under a scheme of reconstruction

Shipbuilding, excluded activities

Spending money raised under seed enterprise investment scheme

Steel production, excluded activities

Trading requirement

Treasury powers to amend

Unquoted status requirement

Use of money raised requirement

Wholesale and retail distribution, excluded activities

Winding up of the relevant company

Qualifying trades

Coal production

Electricity, subsidised generation or export

Excluded activities

Generally

Hotels and comparable establishments

Leasing

Nursing homes

Property development

Provision of services to persons carrying on qualifying activities

Residential care homes

Royalties and licence fees

Shipbuilding

Steel production

Subsidised generation of heat or production of gas or fuel, excluded activities

Subsidised generation or export of electricity

Wholesale and retail distribution

Re-investment, deferred charge on

Reconstructions

Exchange of shares or securities

Transfer of assets

Records to be kept by trust company

Generally

Inspection by officer of Revenue and Customs

Regulations as to procedure etc., power to make

Relevant investments limit

Reliefs

Capital gains tax

Repeal of saving for investment of protected money

Returns

Transitional provisions

Valuation of assets

Winding up

Disposals

Distributions

Generally

Interpretation

Periods before and after

Regulations, power to make

Relevant company

Transfer of investments in specie

Withdrawal of approval

Before notice of withdrawal

Companies

Generally

Loss of relief