QUALIFYING TRADING COMPANIES

Related Commentary  Related HMRC Manuals

38(1)  In relation to shares issued before 17 March 2004, section 134(2)(a) applies with the omission of sub-paragraph (iv) and the “and” immediately before it.

38(2)  In relation to shares issued before 6 April 1998, section 134 applies with the substitution for subsections (2) to (5) of–

134(2)  “Condition A is that the company either–

(a)is a trading company on the date of the disposal, or

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