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 61: VCT: the trading requirement and the carrying on of a qualifying trade requirement: sections 290, 291 and Schedule 2Part 8 (the trading requirement and the carrying on of a qualifying activity requirement)
This change enables certain requirements to be met in circumstances where the relevant company acquires a company after the issue of the relevant shares.
There are three aspects.