Statute
Section 257MIA — Income Tax Act 2007: The financial health requirement
Text of the provision Official document
The financial health requirement 257MIA 1 The social enterprise must meet the financial health requirement at the beginning of the shorter applicable period.
2 The financial health requirement is that the social enterprise is not in difficulty.
3 The social enterprise is “in difficulty” if it is reasonable to assume that it would be regarded as a firm in difficulty for the purposes of the Community Guidelines on State Aid for Rescuing and Restructuring Firms in Difficulty (2004/C 244/02).
Official source: legislation.gov.uk
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