VCT Flashcards
1
Q
Ongoing requirement a VCT must satisfy?
A
Company must not be a closed company
Must be listed on a EEA exchange
Its income must be derived from shares and securities
At least 70% of investments must be in qualifying trading companies
No more than 15 % can be in any one group
At least 10% of investment in any company must be held in ordinary shares
At least 70% of investments by value must be in ordinary shares
Company must have gross assets not more than £15,000,000 before and £16,000,000 after investment.
Qualifying company must have fewer than 250 employees.
Annual amount that can be invested by VCT in any individual company is £5,000,000.
