{
  "url": "https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-90",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-90.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "schedule/2/paragraph/90",
  "kind": "paragraph",
  "number": "90",
  "heading": null,
  "text": "(1) This paragraph applies in relation to the meaning of “company”, “shares” and “research and development” in Part 6 (see section 332).\n(2) If—\n(a) a company holds investments of any description in an entity immediately before 6 April 2007, and\n(b) the entity is a company for any purposes of the Part 6 provisions but not for the corresponding purposes of the ICTA provisions,\nany question whether the entity is a company for those purposes of the Part 6 provisions is to be determined in accordance with the ICTA provisions until such time as the company ceases to hold investments of that description.\n(3) If—\n(a) a company holds investments of any description in an entity immediately before 6 April 2007, and\n(b) the investments are shares for any purposes of either of the following—\n(i) the Part 6 provisions, and\n(ii) the ICTA provisions,\nbut not for the corresponding purposes of the other set of provisions,\nany question whether the investments are shares for those purposes of the Part 6 provisions is to be determined in accordance with the ICTA provisions until such time as the company ceases to hold investments of that description.\n(4) In sub-paragraphs (2) and (3)—\n“the ICTA provisions” means section 842AA of ICTA (VCT approvals) and Schedule 28B to that Act (qualifying holdings),\n“the Part 6 provisions” means Chapter 3 of Part 6 (VCT approvals) and Chapter 4 of that Part (qualifying holdings).\n(5) For the purpose of determining whether any shares or securities are to be regarded as comprised in a company's qualifying holdings, section 332 applies in relation to shares issued before 6 April 2000 with the substitution for the definition of “research and development” of—\n““research and development” means any activity which is intended to result in a patentable invention (within the meaning of the Patents Act 1977) or in a computer program.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/schedule/2/paragraph/90",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}