Commentary

D8.318 Qualifying issuing companies―individual-owners requirement

Corporate tax
Corporate tax | Commentary

D8.318 Qualifying issuing companies―individual-owners requirement

Corporate tax | Commentary

D8.318 Qualifying issuing companies―individual-owners requirement

Throughout the qualification period, at least 20% of the ordinary shares of the issuing company must be owned by one or more independent individuals. Ownership in this context means beneficial ownership1.

Meaning of 'independent individual'

An independent individual is one who, at any time during the qualification period when he holds ordinary shares in the issuing company, is not a director or employee, or the relative of a director or employee, of the investing company or a company connected with it. Relative means spouse, civil partner, parent or earlier forebear and child or later descendant2.

The shares

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