SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Capital Allowances Act 2001 (c. 2)
489
1
Amend section 125 (other qualifying purposes) as follows.
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.