Income Tax Act 2007 s 263

s 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 30% 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.

Read this section in the full act → · Open Chapter 2 →

Read the official text ↗

Contains public sector information licensed under the Open Government Licence v3.0.

What to look at next

Income Tax Act 2007, full textChapter navigation and full text, so you can read this section in contextUK legislation UK Legislation by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and year Chapter 2 — VCT relief — read this in contextThe surrounding text of the act in order, so you can see what comes before and afterChapters and sections