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IFM41295 | Administrative requirements: non-deliberate breach of ownership condition: introduction

From HM Revenue & Customs · Investment Funds Manual

FA22/SCH2/PARAS 26, 27, and 29

If a QAHC unintentionally breaches the ownership condition, the outcome will depend on what the QAHC decides to do. This in turn determines the exit date and what notifications must be made to HMRC.

The possible scenarios are:

QAHC does not request to enter a cure periodIFM41300
QAHC decides to enter a cure periodIFM41305
QAHC decides to enter a cure period but the cure is not achievedIFM41305

Guidance on the ownership condition is at IFM40210+ and guidance on cures is at IFM40430.