HMRC Venture Capital Trust (VCT) Campaign Letter – March 2020
HMRC have provided the Chartered Institute of Taxation (CIOT) with information regarding their latest campaign. The educational campaign is directed at taxpayers who subscribed for Venture Capital Trust (VCT) shares and claimed income tax relief on the subscription in their 2016 Self-Assessment Tax Returns.
Letters were sent by HMRC to a sample of taxpayers in March 2020 detailing information about their income tax obligations regarding VCTs and the circumstances in which income tax relief may be withdrawn.
If you have received a campaign letter from HMRC and require assistance in bringing your affairs up-to-date we can help. Even if you have not received a letter from HMRC but you have made a VCT investment since 6 April 2015, sold the shares and you need to bring your tax affairs up-to-date please contact Danielle Ford or your usual haysmacintyre advisor.