Related Commentary  Related HMRC Manuals

101B(1)  Where section 139 has applied on the transfer of a company’s business (in whole or in part) to a company which at the time of the transfer was not a venture capital trust, then if–

(a)at any time after the transfer the company becomes a venture capital trust by virtue of an approval for the purposes of Part 6 of ITA 2007; and

(b)at the time as from which the approval has effect the company still owns any of the assets of the business transferred,

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