SCHEDULES

SCHEDULE 3Entrepreneurs' relief

PART 1Reduction in lifetime limit

Interpretation

6

1

Paragraphs 2 to 5 are to be construed as if they were contained in Chapter 3 of Part 5 of TCGA 1992, subject to sub-paragraph (2).

2

In those paragraphs—

  • “company A” and “company B” have the same meanings as in section 135 of TCGA 1992;

  • “original shares” has the meaning given by section 126 of TCGA 1992;

  • “reorganisation” has the meaning given by that section;

  • “trading company” and “trading group” have the meanings given by paragraph 1 of Schedule 7ZA to TCGA 1992.