As I understand it VCT subscriptions under dividend reinvestment plans are no considered linked sales under section 264A of the Income Tax Act (clause 8):
This section does not apply if, or to the extent that, the subscription for the relevant shares is a result of the individual electing to reinvest dividends payable to the individual on shares in the VCT, in acquiring further shares in the VCT
Consequentially, it is possible to sell shares in a VCT held for 5+ years and subscribe to new shares under a dividend reinvestment scheme within a 6-month period without impacting the ability to claim tax relief on the newly subscribed shares?
Thanks