EIS relief is not intended to be given to anyone who directly or indirectly owned the trade before it came to be owned by the issuing company (see E3.106A)1. It will be denied if the issuing company acquires or owns the shares, trade or trading assets of a company that previously carried on the trade and was directly or indirectly owned by the investor or the investor's associate2. Where EIS relief was already given it will be reduced or withdrawn if, within period A (see E3.104), the issuing company, comes to own the trade or trading assets or share capital of a company that previously attracted EIS relief3.
Acquisition of a trade or trading assets
EIS relief given to an investor will be reduced or withdrawn if at any time in period A, the issuing company or one of its qualifying subsidiaries begins to either4:
- Ìý
•ÌýÌýÌýÌý carry on as its trade (or as part
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