ANNEX 1:: MINOR CHANGES IN THE LAW MADE BY THE BILL This change is in taxpayers’ favour in principle. But it is expected to have no practical effect as it is in line with current practice.
Change 42: EIS, VCT and share loss relief: meaning of “qualifying business activity” and the trading requirement: sections 137, 179 and 181, Schedule 1 (section 576B of ICTA) and Schedule 2Part 6 (the trading requirement)
This change enables certain requirements to be met in circumstances where the issuing company acquires a company after the issue of the relevant shares.
There are three aspects to this change.