Income Tax Act 2007 (c. 3)

Part 5 U.K. Enterprise investment scheme

Chapter 2 U.K. The investor

Meaning of connection with issuing company U.K.

171 Persons subscribing for shares under certain arrangements U.K.

(1) This section applies if an individual (“A”) subscribes for shares in a company (“the company”) with which A is not connected under section 167 or 170.

(2) If—

(a) A subscribes for the shares as part of an arrangement, and

(b) the arrangement provides for another person to subscribe for shares in another company with which (assuming it to be the issuing company) A, or any other individual who is a party to the arrangement, is connected,

A is connected with the company under this section.