1
Q
question
A
Ansswer
2
Q
Type of company
A
The disposer has to be a trading company or a holding company of a trading group.
3
Q
Group
A
> 50%
4
Q
Substantial Shareholding
A
10% of the ordinary share capital for a continuous period of 12 months in the 24 months before the disposal. Must give beneficial entitlement to 10% of distributable profits or assets on a winding up.
5
Q
Ownership
A
The 10% can be direct or indirect.
6
Q
Other shares
A
If the SSE condition is met in relation to ordinary shares, a sale of other shares in the same company is exempt regardless of size of the holding and length for which they have been held.
7
Q
Definition of trading
A
The company or, if relevant, the group, must have non-trading activities
TMC
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Decks in class (6)
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