{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-275",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-275.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/275",
  "kind": "section",
  "number": "275",
  "heading": "Alternative requirements for the giving of approval",
  "text": "(1) This section applies if one or more of the conditions mentioned in section 274(2) are not met with respect to a company in relation to its most recent complete accounting period.\n(2) The Commissioners for Her Majesty's Revenue and Customs may still approve the company for the purposes of this Part if they are satisfied that the condition or conditions in question—\n(a) will be met in relation to the period mentioned in subsection (3), and\n(b) will continue to be met in relation to accounting periods following that period.\n(3) The period is—\n(a) in relation to the listing condition, the nature of income condition, the income retention condition and the 15% holding limit condition, the accounting period of the company which is current when the application for approval is made, or its next accounting period,\n(b) in relation to the 80% qualifying holdings condition and the 70% eligible shares condition, an accounting period of the company beginning no more than 3 years after the time when the approval is given or, if earlier, when the approval takes effect.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 275(3)(b) substituted (6.4.2019) by Finance Act 2018 (c. 3), Sch. 5 paras. 3(b), 13; S.I. 2018/931, reg. 4(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in s. 275(3)(b) substituted (6.4.2011) (with effect in accordance with Sch. 2 paras. 6, 8 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 2 para. 2(3); S.I. 2011/662, art. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/275",
    "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."
}