232 Acquisition of a trade or trading assets
Income Tax Act 2007 (2007 c 3) | Legislation

Miscellaneous

232  Acquisition of a trade or trading assets

(1)     Any EIS relief attributable to any shares in a company held by an individual is withdrawn if—

(a)     at any time in period A, the company 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 company 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 individual is a person, or one of a group of persons, to whom subsection

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