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Budget 2008
Corporate Venturing Scheme (CVS)*
- For shares issued after 31 March 2000 and before 1 April 2010.
- 20%corporation tax relief on amounts subscribe for new ordinary shares in companies with qualifying activities.
- Investment must not exceed 30%of ordinary share capital or voting power.
- At least 20%of ordinary shares must be held by individuals.
- Investee company’s gross assets must not exceed £7 million pre investment or £8 million post investment.
- Company must have fewer than 50 employees at time of investment and not have raised more than £2 million in the last year from CVS, EIS or VCT investment.
- Minimum holding period 3 years from later of issue date and commencement of relevant trade.
- Tax deferral on gains on corporate venturing investments reinvested in other shares attracting corporate venturing relief.
- Relief against income for capital losses (net of investment relief) on share disposals.
* Qualification rules are complex, HM Revenue & Customs’ approval required.
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