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Selling VCT Shares Within 5 Years

How to repay 30% tax relief claimed on VCT shares because they were sold within 5 Years.

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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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By grahambonds
12th Feb 2020 15:24

Best to do it by letter with full details then HMRC will raise an assessment - s271 ITA '07.

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