Substantial Shareholding Exemption - investee company dissolved

Substantial Shareholding Exemption - investee...

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Hi,

I have a client that held 100% of the share capital of its subsidiary.  It has now disposed of the shareholding for nil proceeds and so has a loss on disposal.  The subsidiary was dissolved during the year of disposal.  Does this fall under the SSE exemption or do I have a capital loss? I can find legislation regarding if the investor company goes into liquidation but nothing on the investee side.

Many thanks

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