Income Tax Act 2007 (c. 3)

SCHEDULES

SCHEDULE 2 U.K. Transitionals and savings

Part 8 U.K. Venture capital trusts

Meaning of “excluded activities” U.K.

81 U.K. For the purpose of determining whether shares or securities are to be regarded as comprised in a company's qualifying holdings at any time, section 303(1)(g) to (k) (and accordingly sections 307 to 309) do not apply in relation to shares or securities acquired [F1 before 6 April 2018] by the company by means of the investment of—

(a) money raised by the issue before 17 March 1998 of shares in or securities of the investing company, or

(b) money derived from the investment by that company of any such money.

Textual Amendments

F1 Words in Sch. 2 para. 81 inserted (6.4.2018) by Finance Act 2018 (c. 3), Sch. 5 paras. 8(4), 13; S.I. 2018/931, reg. 4(e)