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In a takeover scenario, if the company joining the group is already a qualifying company in the financial year in which the takeover happens it will continue to be a qualifying company for that financial year.

Example

Company A has its financial year end on 31 December 2013. In the early part of that year its responsible officers determine that it is a qualifying company for that financial year. »Ê¹ÚÌåÓýappy determine this because it is UK incorporated and because of its preceding year results.

In June 2013 it is taken over by company B. Company A is still a qualifying company - its UK incorporation and the results of its preceding year stand as before.

See SAOG11301 for the situation where the company joining the group is not already a qualifying company.