HMRC has published the Venture Capital Trust (Amendment) Regulations, SI 2016/1192, setting out new information and record keeping requirements affecting venture capital trusts (VCTs) from 31 December 2016, following changes introduced by Finance (No 2) Act 2015 Sch 5 and 6. These changes were made to focus the VCT scheme on higher risk, newer companies and the new information is necessary to comply with EU state aid rules. The record keeping requirement will also be extended from six to 10 years, to meet EU rules.
HMRC has published the Venture Capital Trust (Amendment) Regulations, SI 2016/1192, setting out new information and record keeping requirements affecting venture capital trusts (VCTs) from 31 December 2016, following changes introduced by Finance (No 2) Act 2015 Sch 5 and 6. These changes were made to focus the VCT scheme on higher risk, newer companies and the new information is necessary to comply with EU state aid rules. The record keeping requirement will also be extended from six to 10 years, to meet EU rules.
