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Income Tax (Trading and Other Income) Act 2005
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- UK Public General Acts
- 2005 c. 5
- SCHEDULE 1
- Part 2
- Paragraph 549
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Capital Allowances Act 2001 (c. 2)
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549(1)Amend section 263 (qualifying activities carried on in partnership) as follows.
(2)In subsection (1) for paragraph (c) substitute—
“(c)the following condition is met.”
(3)After that subsection insert—
“(1A)The condition is that—
(a)the change does not involve all of the partners permanently ceasing to carry on the qualifying activity, or
(b)the change does not result in the qualifying activity being treated under section 18 or 362 of ITTOIA 2005 as permanently ceasing to be carried on by a company or treated as discontinued under section 337(1) of ICTA (companies beginning or ceasing to carry on trade etc.).”
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