»Ê¹ÚÌåÓýapp

ITA07/S274(2) and S280C

A VCT is prohibited, in any accounting period, from making any investment in a company which exceeds the permitted maximum age. »Ê¹ÚÌåÓýapp permitted maximum age limits are the same as the limits which apply for the purposes of ITA07/S294A in determining whether a holding is ‘qualifyingâ€� or not.

»Ê¹ÚÌåÓýapp same permitted maximum age rules apply to a company whether it receives an investment by a VCT or through the EIS.

A company must receive its first risk finance investment no later than 7 years after its first commercial sale (10 years for knowledge-intensive companies) - except in certain specific circumstances.

»Ê¹ÚÌåÓýapp rules provide a longer period of time for knowledge-intensive companies in recognition of the extra time innovative companies usually need to need to establish themselves in the market.

Companies may continue to receive risk finance investments after the end of the 7 or 10 year period in certain circumstances.

See VCM8150+ for more details on the permitted maximum age limit.