Part 14Change in company ownership

Chapter 3Company with investment business: restrictions on relief: general provision

Meaning of “significant increase in the amount of a company's capital”

688Meaning of “significant increase in the amount of a company's capital”

1

This section and sections 689 to 691 have effect for determining whether, for the purposes of section 677(2), there is a significant increase in the amount of a company's capital after a change in the ownership of the company.

2

There is a significant increase in the amount of a company's capital if amount B—

a

exceeds amount A by at least £1 million, or

b

is at least twice amount A.

3

For the meaning of—

a

“amount A” and “amount B”, see sections 689 and 690 respectively, and

b

“amount of capital”, see section 691.