VCM36110 - SEIS: income tax relief: withdrawal or reduction of SEIS relief: acquisition of share capital

ITA07/S257FQ

ITA07/S257FQ covers the situation where the individual investor or a group of which he or she is part formerly controlled a company which then carried on the trade and that company has come to be owned by the company in which the individual has now invested.

For the purpose of deciding whether anyone has a half share in a trade or can control a company the rights and powers of each person are to be taken as including the rights and powers of any associate, see VCM32020, and ‘control’ has the meaning given in CTA10/S450 (see CTM60200).

The persons to whom a trade belongs, or the extent of their interests in it, are to be determined in accordance with CTA10/S941 (see CTM06020).