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 44: EIS and share loss relief: companies controlled by the issuing company must be its own qualifying subsidiaries: sections 139 and 185, Schedule 1 (section 576D of ICTA) and Schedule 2Part 6 (the control and independence requirement)
This change makes it explicit that during period B the issuing company cannot control (alone or with connected persons) companies which are not qualifying subsidiaries of the issuing company.