Govt announces VCT 'forum' to clarify new rules

Following a consultation on rules announced in the March Budget, the government said in today's Summer Budget that the forum will bring together HMRC, HM Treasury, and users of the tax-advantaged venture capital schemes, alongside other stakeholders. Its aim is to discuss and review the operation of the schemes and the tax issues that arise as a result. One of its early responsibilities will be the development of a standard format for annual VCT returns. The meetings will be held at least every quarter and will be chaired by HMRC under Chatham House rules. Further reading: VCT fu...