Skip to navigation Skip to main content

News & Insights > Regulations Updates

Second Finance Bill of 2017

8 September 2017

A number of amendments to the venture capital tax relief regimes were originally announced in the 2016 Autumn Statement, and included in the draft 2017 Finance Bill. All of those provisions were dropped from the truncated Finance Act, which was passed prior to the General Election.

VCTs – amended regulations for annual returns of investments

8 December 2016

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

5 December 2016

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.

VCTs – annual returns of investments

20 September 2016

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

21 July 2016

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:

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.

Finance Bill Summer 2015

16 July 2015

The Summer Finance Bill was published on 15 July 2015. It includes a number of changes to the EIS and VCT rules, mainly to bring the legislation into line with the EU State Aid Risk Finance Guidelines which were revised last year. Further details can be found at EIS Summary and VCT Summary.

Expert, Impartial Advice

Tax relief schemes are a key part of the UK Government's strategy to help small and growing businesses raise much-needed capital. We advise businesses looking to raise money under these schemes and can deal with HMRC on your behalf.