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

181  The trading requirement

(1)     The issuing company must meet the trading requirement throughout period B.

(2)     The trading requirement is that—

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

(b)     the 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.

(3)     If the 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 company is treated as a parent company for the purposes of subsection (2)(b), and

(b)

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