Section 257FQ Acquisition of share capitalF1

(1)

Any SEIS relief attributable to any shares in a company held by an individual is withdrawn if—

(a)

the company comes to acquire all of the issued share capital of another company at any time in period A, and

(b)

the individual is a person, or one of a group of persons, to whom subsection (2) applies.

(2)

This subsection applies to any person or group of persons who—

(a)

controls or, at any time in period A, has controlled the company, and

(b)

at any such time, controlled the other company.

Annotations

F1: Pt. 5A inserted (17.7.2012) (with effect in accordance with Sch. 6 para. 24(1) of the amending Act) by Finance Act 2012 (c. 14), Sch. 6 para. 1

C1: Pt. 5A applied by Taxation of Chargeable Gains Act 1992 (c. 12), Sch. 5BB para. 8(4) (as inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 6 para. 5)