»Ê¹ÚÌåÓýapp

ITA07/S274(2) and S280B

A VCT is prohibited, in any accounting period, from making any investment in a company which exceeds the permitted investment limits. »Ê¹ÚÌåÓýapp permitted limits in question are is the same as the limits which apply for the purposes of ITA07/S292A and ITA07/S292AA in determining whether a holding is ‘qualifyingâ€� or not ( VCM55130 refers).

»Ê¹ÚÌåÓýappre are two investment limits, both of which must be met:

• »Ê¹ÚÌåÓýapp annual investment limit: £5 million over a rolling 12 month period (£10 million for knowledge-intensive companies receiving investments on or after 6 April 2018)
• »Ê¹ÚÌåÓýapp lifetime funding limit: £12 million (£20 million for knowledge-intensive companies)

Go to VCM8121 for further details on the limits.