Section 8ZA of TMA: Interpretation of section 8(4A)
1292.Section 8ZA lists the conditions that must be met if a person is to be subject to section 8(4A).
1293.The section sets out a series of conditions to be met. This approach differs from the source which simply referred to the conditions in turn.
1294.Subsection (4) refers to a person who carries on a trade. The definition of trade for the purposes of TMA is to be found in section 118 of that Act. The definition of trade for the purposes of section 24 of FA 1974 is to be found in section 989 of ITA. The definitions differ in form but not in substance. It is therefore not considered that the change in definition constitutes a change in the law.