{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-263",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-263.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/263",
  "kind": "section",
  "number": "263",
  "heading": "Form and amount of relief",
  "text": "(1) An individual who—\n(a) is entitled to claim VCT relief for a tax year, and\n(b) claims such relief for the year on any amount,\nis entitled to a tax reduction for the year.\n(2) The tax reduction is equal to 20% of the amount in respect of which the claim is made.\n(3) The tax reduction is given effect at Step 6 of the calculation in section 23.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 263(2) substituted (6.4.2026) by Finance Act 2026 (c. 11), s. 15(2)(9)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/263",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}