Commons to decide on VCT rules

Professional Adviser
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The House of Commons is to decide whether to amend the regulations on Venture Capital Trusts to prot...

The House of Commons is to decide whether to amend the regulations on Venture Capital Trusts to protect their tax privileges in cases in which a trust's holdings are subject to corporate restructuring. Under current rules at least 70% of a VCT's investments must be made in small, higher risk trading companies and at least 30% of this in ordinary shares. After three years of declining market performance many companies held by VCTs have been restructured or taken over, which has in some cases threatened trusts' compliance with Inland Revenue rules. When this happens, the VCT, as a minori...

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