VCM11090 - EIS: income tax relief: the investor: connection: persons subscribing for shares under certain arrangements
ITA07/S171
An individual is connected with a company if he or she, whether alone or together with any associate (see VCM11100), subscribes for the company바카라 사이트™s shares as part of any arrangement which provides for another person to subscribe for shares in another company with which that individual, or any other individual who is a party to the arrangement, is connected within the meaning of VCM11050 to VCM11070.
This provision would apply, for example, where A, B and C own the companies A Ltd, B Ltd and C Ltd respectively, and A subscribes for shares in B Ltd, B in C Ltd and C in A Ltd. If there is reason to believe that such an arrangement exists, under ITA07/S243 any person concerned can be required to give information about it.