Section 248 — Income Tax Act 2007: Carry over of obligations etc where EIS relief attributed to new shares

Carry over of obligations etc where EIS relief attributed to new shares 248 1 This section applies if, under section 247, any EIS relief which is attributable to any old shares becomes attributable instead to any new shares.

2 This Part has effect as if anything which, under—

a section 203(1) (entitlement to claim),

b section 234(3) (relief subsequently found not to be due), or c sections 241 to 244 (information to be provided), has been done, or is required to be done, by or in relation to the old company had been done, or were required to be done, by or in relation to the new company.

3 Any appeal brought by the old company against a notice under section 234(3)(b) may be prosecuted by the new company as if it had been brought by that company.