For the purposes of disallowing losses1 on the change of ownership of a company2, there is a change of ownership of a company if any of the following conditions is met3, namely:
(1) a single person acquires more than half the ordinary share capital4 of the company; or
(2) two or more persons each acquire a holding of at least 5 per cent of the ordinary share capital of the company, and those holdings together amount to more than half the ordinary share capital of the company; or
(3) two or more persons each acquire a holding of the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234