Substantial shareholding exemption

Clumsy structure

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Client trading Company1 is owned 45% by Company 2 with the remaining 55% held by unconnected individuals. Company 2 is not trading and is in turn owned 35% by a non-trading Company 3 and 65% individuals. 

Company 1 is about to cease and proposal is to liquidate Companies 1 and 2. All the conditions for SSE will have been met as regards Company 2's gain but since there is no tax group here and therefore, by definition, no trading group I can't see that SSE would be available to Company 3.  Correct?

Thanks 

To Accountant A - get a life

To Wilson Phillips - there are a large number of individual shareholders and the 75% test for Joint Venture companies is not met. 

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By Accountant A
15th Jun 2020 20:49

Y-9y

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Replying to Accountant A:
Psycho
By Wilson Philips
01st Mar 2020 13:20

Is that an informed answer or your usual sarcastic response? Because I don’t think that there is enough information in the question to facilitate an informed response.

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Replying to Wilson Philips:
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By Accountant A
15th Jun 2020 20:50

-9y

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Replying to Accountant A:
Psycho
By Wilson Philips
01st Mar 2020 13:41

Well I suppose that might be helpful in some small way, with the OP knowing that they can now ignore your answer.

I can understand your rudeness (though don’t necessarily agree with it) towards ‘freeloading’ members of the public - but since you continually make the point that this is a site for fellow professionals to discuss matters ...

To the OP - more information is needed about the non-corporate shareholders (ie how many?) Also, what exactly does Company 2 do?

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Replying to Wilson Philips:
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By Accountant A
15th Jun 2020 20:49

-9y

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