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1486013

registered interest
date	04/07/2022
answering body	Prime Minister
answering dept id	23
answering dept short name	Prime Minister
answering dept sort name	Prime Minister
hansard heading	Venture Capital
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Prime Minister, with reference to his oral contribution of 22 June 2022, Official Report, col 840, that there is record venture capital investment in this country, which has now overtaken China as a venue for venture capital investment, what (a) data and (b) sources he is citing.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	30011
answer	answer is ministerial correction date of answer 07/07/2022 answer text <p>I refer the Hon. Member to the Official Report, 6 July 2022, col. 11MC.</p><p>The source was the Dealroom Tech Health Check which is available at <a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdealroom.co%2Fblog%2Fuk-tech-health-check-london-tech-week-2022&amp;data=05%7C01%7CRHodgson%40no10.gov.uk%7C7613871608234d7905d108da602e83c5%7C29c8cbb9d9af4c7eb28b470f15275e47%7C1%7C0%7C637928050129490767%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=Qy3pF2pa5sx3g0UJljgTYzNHDtK4AbEReGWrhBUv41M%3D&amp;reserved=0" target="_blank">https://dealroom.co/blog/uk-tech-health-check-london-tech-week-2022</a>.</p><p>This Government has been creating the right tax environment to promote investment and innovation. That is why we introduced the 130% super-deduction for capital investment and increased the Annual Investment Allowance from £200,000 to £1 million. We also have specific tax reliefs aimed at encouraging Venture Capital and early-stage investment, such as the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme.</p> answering member constituency Uxbridge and South Ruislip answering member printed Boris Johnson grouped question UIN 30012 question first answered 07/07/2022 16:15:33 answering member 1423 label Biography information for Boris Johnson
tabling member	4124 label Biography information for Chi Onwurah

677450

registered interest
date	23/01/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Venture Capital
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many people received income tax relief for venture capital trusts in (a) 2014-15 and (b) 2015-16.
tabling member constituency	Salford and Eccles
tabling member printed	Rebecca Long Bailey
uin	61130
answer	answer is ministerial correction date of answer 26/01/2017 answer text <p>The number of people claiming income tax relief on investments in Venture Capital Trusts (VCT) in 2014-15 was 12,920. HM Revenue and Customs has not yet published statistics for the number of claims in 2015-16; these will be published by the end of 2017, as part of the regular schedule of VCT statistics.</p><p> </p> answering member constituency Battersea answering member printed Jane Ellison question first answered 26/01/2017 11:03:25 answering member 3918 label Biography information for Jane Ellison
tabling member	4396 label Biography information for Rebecca Long Bailey

521527

registered interest
date	25/05/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Venture Capital
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the average length of time between an application being made for a Venture Capital Trust Scheme and the scheme taking effect was in each of the last six years.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	38537
answer	answer is ministerial correction date of answer 06/06/2016 answer text <p>The average time between a company applying to HM Revenue and Customs (HMRC) for approval as a Venture Capital Trust (VCT) and receiving approval in the last six tax years was as follows:</p><p> </p><table><tbody><tr><td><p><strong>Tax year</strong></p></td><td><p><strong>Number of VCTs approved</strong></p></td><td><p><strong>Average time taken to approve applications (days)</strong></p></td></tr><tr><td><p>2010-11</p></td><td><p>16</p></td><td><p>7</p></td></tr><tr><td><p>2011-12</p></td><td><p>6</p></td><td><p>9</p></td></tr><tr><td><p>2012-13 to 2015-16</p></td><td><p>6</p></td><td><p>16</p></td></tr></tbody></table><p> </p><p>Notes</p><p> </p><ol><li><p>The information for the years 2012-13 to 2015-16 has been grouped owing to the low numbers of VCTs seeking approval in each of those years. Disclosure of average times in each of those years could identify specific companies.</p></li><li><p>The number of VCTs approved each year is provided in order to give context for the averages reported.</p></li><li><p>The average time includes non-working days such as weekends and public holidays. Fractions of days are rounded up to the nearest day.</p></li><li><p>The amount of time taken to approve a company as a VCT depends upon the specific facts of each case. Two cases in the period from 2012-13 to 2015-16 had significantly longer approval times, raising the average for this period. If those cases were excluded, the average time would have been 10 days.</p></li><li><p>A company cannot raise funds from VCT investors until it has been listed on a regulated stock market. HMRC does not hold information about the date of listing although that information is publicly available.</p><p> </p></li></ol> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 06/06/2016 16:34:14 answering member 1529 label Biography information for Mr David Gauke
tabling member	4253 label Biography information for Seema Malhotra

166245

registered interest
date	26/11/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Venture Capital
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the amount of funding invested in small and medium-sized enterprises through venture capital trusts in (a) Northern Ireland and (b) the UK in each of the last three years.
tabling member constituency	South Antrim
tabling member printed	Dr William McCrea
uin	216116
answer	answer is ministerial correction date of answer 02/12/2014 answer text <p>The precise information requested is not available at reasonable cost. Venture Capital Trusts raised £440 million in 2013-14, £400 million in 2012-13 and £325 million in 2011-12 to fund their investments. HM Revenue &amp; Customs Statistics on VCTs are published annually and can be found at: <a href="https://www.gov.uk/government/collections/venture-capital-trusts-statistics" target="_blank">https://www.gov.uk/government/collections/venture-capital-trusts-statistics</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 02/12/2014 17:21:39 answering member 1529 label Biography information for Mr David Gauke
tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown

100089

registered interest
date	21/10/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Venture Capital
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what assessment his Department has made of a potential equity gap in UK venture capital sector.
tabling member constituency	Stratford-on-Avon
tabling member printed	Nadhim Zahawi
uin	211212
answer	answer is ministerial correction date of answer 28/10/2014 answer text <p>I have asked the British Business Bank to publish its analysis of equity finance available to UK small business before the end of the year, which will include analysis on UK venture capital. The Department also published an economics paper in January 2012 on SME access to finance, which summarized the evidence at that time about the equity gap in UK venture capital. The paper is available at the following web address: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/32263/12-539-sme-access-external-finance.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/32263/12-539-sme-access-external-finance.pdf</a></p><p> </p> answering member constituency West Suffolk answering member printed Matthew Hancock question first answered 28/10/2014 11:00:19 answering member 4070 label Biography information for Matt Hancock
tabling member	4113 label Biography information for Nadhim Zahawi

93103

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Venture Capital
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to promote investment in venture capital trusts.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	210570
answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The venture capital trust (VCT) regime was significantly expanded at Budget 2012. VCTs can now invest up to £5 million a year into each qualifying company, and larger companies (with up to 250 employees and £15 million of gross assets) can benefit from the investments.</p><p> </p><p> </p><p> </p><p>The government believes that the VCT regime, alongside the other tax-advantaged venture capital schemes, plays a key role in facilitating access to finance for smaller businesses with growth potential. At Budget 2014 the government announced that changes would be made to enable investors to subscribe for VCT shares via nominees, to facilitate a wider range of opportunities to invest in VCTs. The government has also recently consulted on the impact of the recent expansions to the venture capital schemes and is committed to ensuring that the schemes continue to work effectively.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2014 15:54:56 answering member 1529 label Biography information for Mr David Gauke
tabling member	4124 label Biography information for Chi Onwurah