E3.141 Qualifying business activities—activities A and B
In order for a qualifying investor (see E3.106) to receive EIS income tax relief (see E3.102), investment must be made in the qualifying shares (see E3.116) of a qualifying company (see E3.126) that is carrying on qualifying business activities.
A qualifying business activity is one of two types of activities which essentially involve either a qualifying trade (activity A) or research and development (activity B). Either the issuing company or a qualifying 90% subsidiary must either already carry on the activity, or intend to carry it on
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