SCHEDULES
SCHEDULE 18 Venture capital trusts: amendments
Part I Reduction of applicable periods
Relief from income tax
F11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Deferred CGT charge on reinvestment
2
In Schedule 5C to the M1Taxation of Chargeable Gains Act 1992 (venture capital trusts: deferred charge on re-investment), in paragraph 3(2), in the definition of “the relevant period" for “five" substitute “
three
”
.
Commencement
3
The amendments made by this Part of this Schedule have effect in relation to shares issued on or after 6th April 2000.
F2Part II Qualifying holdings
F2 Introductory
F24
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2 Qualifying trade: receipt of royalties or licence fees
F25
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2 Meaning of “research and development"
F26
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2 Company in administration or receivership
F27
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .