SCHEDULES
SCHEDULE 5Venture capital trusts: further amendments
Qualifying holdings: exclusions
I18
1
Part 8 of Schedule 2 to ITA 2007 (transitional provision: venture capital trusts) is amended as follows.
2
In paragraph 69 (the no guaranteed loan requirement), after “acquired” insert “
before 6 April 2018
”
.
3
In paragraph 70 (the proportion of eligible shares requirement), in sub-paragraph (2), after “acquired” insert “
before 6 April 2018
”
.
4
In paragraph 81 (meaning of “excluded activities”), after “acquired” insert “
before 6 April 2018
”
.
I29
In Part 1 of Schedule 16 to FA 2007 (venture capital trusts: limit on number of employees in company in which investment made), in paragraph 3(6)(b), after “(“the investing company”)” insert “
before 6 April 2018
”
.
I310
In Schedule 11 to FA 2008 (venture capital trusts), in paragraph 12(b), after “(“the investing company”)” insert “
before 6 April 2018
”
.
I411
1
In Schedule 2 to F(No.3)A 2010 (venture capital trusts), in paragraph 6(2)(b), after “the investing company” insert “
before 6 April 2018
”
.
2
The 30% eligible shares condition does not apply in relation to an accounting period ending on or after 6 April 2018.
3
In sub-paragraph (2) “the 30% eligible shares condition” means the condition referred to as such in section 274(2) of ITA 2007 as originally enacted.