HMRC has updated its venture capital schemes manual to take into account changes made to the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT) rules by the Finance (No.2) Act 2015.

The manual provides a new list of UK state aids approved by the European Commission which are relevant investments for the purposes the EIS and VCT investment limits.

The manual also explains that money raised through a VCT or EIS investment generally cannot be used to cover day to day expenditure.

A copy of the manual can be found here