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The Venture Capital Trust Regulations 1995
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- 1995 No. 1979
- PART III
- CHAPTER II
- Supplementary provisions
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Supplementary provisions
Liability for tax where provisional approval withdrawn
20. Where the provisional approval of a company as a trust company is withdrawn, section 252 shall have effect in relation to any tax credit paid under this Chapter as it has effect in relation to any set-off or payment of tax credit mentioned in subsection (1)(b) of that section which ought not to have been made.
Issue of tax credit vouchers in certain circumstances
21.—(1) This regulation applies where—
(a)a trust company makes a distribution which is not included in a claim, or
(b)a trust company makes a distribution which is the subject of a claim which is refused, or
(c)a tax credit in respect of a distribution made by a trust company is recovered pursuant to regulation 15(3) or 20.
(2) Section 234 shall have effect in relation to the distribution.
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