[257HG Meaning of “qualifying business activity”]
Income Tax Act 2007 (2007 c 3) | Legislation

[257HG  Meaning of “qualifying business activity”]

[(1)     In this Part “qualifying business activity”, in relation to the issuing company, means—

(a)     activity A, or

(b)     activity B,

if it is carried on by the company or a qualifying 90% subsidiary of the company.

This is subject to subsection (3).

(2)     Activity A is—

(a)     the carrying on of a new qualifying trade which, on the date the relevant shares are issued, the company

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