Income Tax Act 2007 section 258

Overview of Part

Section 258 provides an overview of Part 6 of the Act, which deals with Venture Capital Trust (VCT) relief — a form of income tax relief available to individuals who subscribe for shares in venture capital trusts.

• VCT relief entitles individuals to income tax reductions when they subscribe for shares issued by a venture capital trust (Chapter 2).
• The approval process for venture capital trusts is set out in Chapter 3, with the meaning of "qualifying holding" for those purposes defined in Chapter 4.
• Power exists for regulations to govern the winding up and merger of venture capital trusts (Chapter 5).
• Supplementary and general provisions supporting the VCT regime are contained in Chapter 6.