Section 263 Form and amount of relief
(1)
An individual who—
(a)
is entitled to claim VCT relief for a tax year, and
(b)
claims such relief for the year on any amount,
is entitled to a tax reduction for the year.
(2)
The tax reduction is equal to F120% of the amount in respect of which the claim is made.
(3)
The tax reduction is given effect at Step 6 of the calculation in section 23.
Annotations
Textual amendments
- F1
Word in s. 263(2) substituted (6.4.2026) by Finance Act 2026 (c. 11), s. 15(2)(9)