Capital Acquisitions Tax Consolidation Act 2003 section 90

Section 90 defines the key terms used throughout the business relief provisions of the Capital Acquisitions Tax Consolidation Act 2003.

• "Business" includes professions and vocations but excludes any activity not carried on for gain — to qualify for relief, a business must be carried on and it must be carried on for profit.
• Company law definitions from the Companies Act 2014 apply to "subsidiary", "holding company", and "undertaking of substantial interest" for the purposes of business relief.
• A "group" for business relief purposes comprises a company together with its subsidiaries, its undertakings of substantial interest, and any subsidiaries of those undertakings.
• References to gifts and inheritances in the business relief chapter mean taxable gifts and taxable inheritances, and references to a donee or successor include a transferee under section 32(2).