519(1)Amend section 559 (effect of successions) as follows.U.K.
(2)For subsection (1)(b) substitute—
“(b)the condition in subsection (1A) or (1B) (whichever is appropriate) is met.”
(3)For subsection (1A) substitute—
“(1A)For income tax purposes, the condition is that no person carrying on the relevant activity immediately before the succession continues to carry it on after the succession.
(1B)For corporation tax purposes, the condition is that no company carrying on the relevant activity in partnership immediately before the succession continues to carry it on in partnership after the succession.”