VCM45500 - VC loss relief: general: qualifying
trading company: excluded companies
ICTA88/S576 (4) - (5)
An excluded company is:
a company whose trade is not carried on a
commercial basis and with a reasonable expectation of profit,
or
the holding company of a group, other than
a trading group, see
VCM45550, or
a building society, within the meaning of
the Building Societies Act 1986, or
a registered industrial and provident
society, as defined in ICTA88/S486, or
for shares issued before 6 April 1998, a company
whose trade consists wholly or mainly of dealing in shares,
securities, land, trades and commodity futures, or
for shares issued on or after 6 April 1998, a
company whose trade consists wholly or mainly of dealing in land,
in commodities or futures or in shares, securities or other
financial instruments.
