489(1)Amend section 125 (other qualifying purposes) as follows.U.K.
(2)In subsection (3)(c) for the words from “on the occasion of each of which” to the end substitute “ on the occasion of each of which there was a change in the persons carrying on the qualifying activity in relation to which Condition A or B was met. ”
(3)After subsection (3) insert—
“(3A)Condition A is that—
(a)at least one person who carried on the qualifying activity immediately before or immediately after the change was within the charge to income tax in respect of that activity, and
(b)at least one person who carried on the qualifying activity before the change continued to carry it on after the change.
(3B)Condition B is that—
(a)the qualifying activity was carried on in partnership both immediately before and immediately after the change,
(b)a company which was within the charge to corporation tax in respect of the activity carried it on immediately before or immediately after the change, and
(c)at least one company which carried the activity on before the change continued to carry it on after the change.”