I have a client who has sold VCT shares within 5 years of investment date. I know that the 30% upfront tax relief must now be repaid. How do you report this to HMRC, is this entered on a tax return, is there a form to do this or should a letter be sent to HMRC?
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Best to do it by letter with full details then HMRC will raise an assessment - s271 ITA '07.