VCM49100 - VC loss relief: companies: conditions to be met

ICTA88/S573 (1)

In order to qualify for relief under ICTA88/S573, the claimant must have been an investment company (see VCM49150) either:

• for a continuous period of six years ending on the date of disposal of the shares in the qualifying trading company (see VCM45300), or
• for a shorter continuous period ending on the date of disposal, but was not an excluded company (see VCM45500) or a trading company (see VCM45550) at any earlier time.

In addition, relief is only available if the claimant was not associated with (see VCM49200), or a member of the same group of companies (see VCM49250) as, the qualifying trading company at any time in the period between subscription for the shares in the qualifying trading company, and their disposal.