Summer Budget: Government announces VCT 'forum' to clarify new rules

HMRC is to hold regular stakeholder forums to help clarify and develop the rules surrounding EIS, SEIS and VCT schemes.

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, HMT, and users of the tax-advantaged venture capital schemes, alongside other stakeholders. VCT fundraising hits nine-year high 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 r...