Income Tax Act 2007 (c. 3)

[F1 PART 5A U.K. Seed enterprise investment scheme

Textual Amendments

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

Modifications etc. (not altering text)

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)

CHAPTER 4 U.K. The issuing company

Introduction U.K.

257D Overview of Chapter U.K.

The issuing company is a qualifying company in relation to the relevant shares if the requirements of this Chapter are met as to—

(a) trading (see section 257DA),

(b) the issuing company's carrying on of the qualifying business activity (see section 257DC),

(c) UK permanent establishment (see section 257DD),

(d) financial health (see section 257DE),

(e) unquoted status (see section 257DF),

(f) control and independence (see 257DG),

(g) no partnerships (see section 257DH),

(h) gross assets (see section 257DI),

(i) number of employees (see section 257DJ),

(j) no previous other risk capital scheme investments (see section 257DK),

(k) the amount raised through the SEIS (see section 257DL),

(l) qualifying subsidiaries (see section 257DM), and

(m) property managing subsidiaries (see section 257DN).]