Taxation of Chargeable Gains Act 1992 Schedule C1 paragraph 11

Widely-marketed schemes

Paragraph 11 of Schedule C1 sets out the conditions under which a collective investment scheme is treated as "widely marketed" for the purposes of the investors' relief provisions, which affects whether shares in a qualifying company held through such a scheme can benefit from the relief.

• A collective investment scheme is widely marketed if its promotional materials are made available to a broad enough audience that the scheme can reasonably be regarded as being marketed to the general public or a wide section of it.
• The scheme must not be marketed in a way that restricts participation to a narrow group of pre-selected investors or persons connected with the scheme's managers or operators.
• Where a scheme was initially widely marketed but later ceases to meet the conditions, it may still be treated as widely marketed for a defined period, preserving the relief for existing investors.
• This provision was introduced by Finance Act 2019, Schedule 1, paragraph 12, as part of the broader framework governing investors' relief under the Taxation of Chargeable Gains Act 1992.