Skip to content
Solved

VCM91110 | CVS: investors and reliefs: relevant preference shares

From HM Revenue & Customs · Venture Capital Schemes Manual

FA00/SCH15/PARA9

Relevant preference shares are defined as shares which:

  • do not currently carry voting rights (whether or not they might acquire voting rights in some specified eventuality), and

  • are issued wholly for new consideration, and

  • do not carry any right the exercise of which would result in their holder’s acquiring any other shares or any securities, and

  • do not carry any right to dividends except dividends of a pre-determined amount (see VCM91120).