Commentary

D8.331 Qualifying investments—relevant shares

Corporate tax
Corporate tax | Commentary

D8.331 Qualifying investments—relevant shares

Corporate tax | Commentary

D8.331 Qualifying investments—relevant shares

In order for the shares to be relevant shares under the corporate venturing scheme, the shares must be ordinary shares, subscribed for only in cash and fully paid up when issued. The shares are not treated as fully paid up for this purpose if there is any undertaking to pay cash to any person at a future date in respect of the acquisition of the shares1 (Shares issued before 17 March 2004 were not treated as fully paid up if there was any undertaking to pay cash to the company at a future date).

This means that

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