VCTs – amended regulations for annual returns of investments
Following our news article of 20 September 2016, HMRC have updated the Venture Capital Trust Regulations 1995 by way of Statutory Instrument. Our summary of the updated regulations is here and a link to the Statutory Instrument is here.
Finance Bill 2017
The first draft of the 2017 Finance Bill was published on 5 December 2016. As announced at the Autumn Statement on 23 November there are measures designed to smooth some of the technical difficulties of the SEIS, EIS and VCT rules. Our summary of these changes and the announced consultation taking place regarding the advance assurance process can be found here.
Autumn Statement 2016
The Chancellor of the Exchequer gave his Autumn Statement to Parliament on 23 November 2016. A number of tax updates and technical changes were announced by HM Treasury and our summary of issues relating to the Venture Capital Tax Reliefs can be found here
EIS and SEIS Statistics: October 2016
HM Revenue & Customs has published its quarterly update of Enterprise Investment Scheme and Seed Enterprise Investment Scheme statistics.
VCTs – annual returns of investments
It was today announced at a meeting held at the AIC, that HMRC are proposing a number of changes to the annual ‘regulation 22’ return required for VCTs.
VCTs: Finance Bill amendments to allow VCTs to hold short term deposits
Amendments are being made to the current Finance Bill to allow VCTs to hold short term deposits as part of their non-qualifying holdings. The following links are to:
HMRC taking a tougher line on advance assurance applications with missing information
HMRC taking a tougher line on advance assurance applications with incomplete information
New guidance on Finance (No.2) Act 2015 EIS and VCT rules published
HMRC have published their guidance on the on the new EIS and VCT rules introduced last year.
