290 The trading requirement
Income Tax Act 2007 (2007 c 3) | Legislation

290  The trading requirement

(1)     The requirement of this section is that—

(a)     the relevant company, ignoring any incidental purposes, exists wholly for the purpose of carrying on one or more qualifying trades, or

(b)     the relevant company is a parent company and the business of the group does not consist wholly or as to a substantial part in the carrying on of non-qualifying activities.

(2)     If the relevant company intends that one or more other companies should become its qualifying subsidiaries with a view to their carrying on one or more qualifying trades—

(a)     the relevant company is treated as a parent company for the purposes of subsection (1)(b), and

(b)     the reference in subsection (1)(b)

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