[257QQ Acquisition of a trade or trading assets]
Income Tax Act 2007 (2007 c 3) | Legislation

[Miscellaneous]

[257QQ  Acquisition of a trade or trading assets]

[(1)     Any SI relief attributable to the investment is withdrawn if—

(a)     at any time in the longer applicable period, the social enterprise or any qualifying subsidiary—

(i)     begins to carry on as its trade, or as part of its trade, a trade which was previously carried on at any time in that period otherwise than by the social enterprise or any qualifying subsidiary, or

(ii)     acquires the whole, or the greater part, of the assets used for the purposes of a trade previously so carried on, and

(b)     the investor is a person, or one of a group of persons, to whom subsection (2) or (3) applies.

(2)

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