I get eligibility of a holdco with a qualifying subsid, but in the circumstances whereby H has acquired S post trade, is H still eligible?
Basically, S started trading (<2yrs), now the shareholders want investment in what will become a group (Hg). The plan was to do a share-for-share exchange to bring in H which will be invested in, but I suddenly started wondering last night and Gov guidance (unsurprisingly) doesn't mention this scenario, nor can I find any reference to it in the HMRC manuals ...
to slightly complicate the matter, H group has already been created for this investment purpose, although S is currently outside of that group. There was talk of binning off Hg and starting a new Hg2 with H2 created with s4s exchange, rather than in effect Hg acquiring S.
The reason for the complication is that the client 'forgot' to mention that S existed and had been trading
Does that make sense?
[NB I know ER is the wrong tag, but I couldn't see one for SEIS or EIS!]