VCM55140 - VCT: VCT qualifying holdings: spending of SEIS money

ITA07/S292B

If a company has previously raised under money via a share issue which has qualified for relief under the Seed Enterprise Investment Scheme (SEIS), the company must have spent at least 70% of that money, as required by ITA07/S257CC (see VCM33040), before a VCT can make an investment of any kind in the company.