# Income Tax Act 2007, 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 20% 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.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/263 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-263
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.