HMRC have updated their guidance on Venture Capital Trusts (VCTs) to reflect current legislation. It is intended for guidance only and does not attempt comprehensive or detailed coverage of the rules of the VCT scheme. The guidance reflects HMRC's understanding of the law in force at the time of publication. HMRC also want to stress that the statements in the guidance do not affect any right of appeal about any tax liability.

The guidance can be accessed at http://www.hmrc.gov.uk/guidance/vct.htm