5(1)Section 212B (circumstances where Chapter 16A applies) is amended as follows.U.K.
(2)In subsection (1)—
(a)in paragraph (a), for “a trade (“the relevant trade”)” substitute “ a qualifying activity (“the relevant activity”) ”, and
(b)in paragraph (c), for “trade” (in both places) substitute “ activity ”.
(3)In subsection (3) for “trade” substitute “ activity ”.
6(1)Section 212C (when there is a a qualifying change in relation to C) is amended as follows.U.K.
(2)In subsection (4)—
(a)after “Condition C is that” insert “ the relevant activity is a trade (within the meaning of this Part) and ”, and
(b)for “trade”, where it appears after “the relevant” (in both places), substitute “ activity ”.
(3)In subsection (5) for “trade” (in both places) substitute “ activity ”.
7(1)Section 212I (relevant percentage share) is amended as follows.U.K.
(2)In subsections (1) and (3) for “trade” substitute “ activity ”.
(3)In subsection (2) for “a trade” substitute “ an activity ”.
8U.K.In section 212J(1) (relevant excess of allowances) for “trade” substitute “ activity ”.
9U.K.In section 212K(2), (3), (4) and (5) (relevant tax written-down value) for “trade” substitute “ activity ”.
10U.K.In section 212N(2), (3) and (4) (old and new accounting periods) for “trade” substitute “ activity ”.
11(1)Section 212P (effect of excess on pools) is amended as follows.U.K.
(2)In subsection (3)—
(a)for “a trade (or part of a trade)” substitute “ a qualifying activity (or part of a qualifying activity) ”,
(b)for “the activities of that trade (or part of a trade)” substitute “ that activity (or that part of an activity) ”,
(c)after “its trade” insert “ or business ”,
(d)for “those activities” substitute “ that activity (or that part) ”, and
(e)after “separate trade” insert “ or business ”.
(3)In subsection (4)—
(a)after “section 37” insert “ , 62 or 66 ”,
(b)omit “trade”,
(c)for “earlier” substitute “ other ”, and
(d)after “period)” insert “ or section 259 or 260(3) of this Act (special leasing) ”.
12(1)Section 212Q (when there are postponed capital allowances) is amended as follows.U.K.
(2)In subsection (3)—
(a)for “a trade (or part of a trade)” substitute “ a qualifying activity (or part of a qualifying activity) ”,
(b)for “the activities of that trade (or part of a trade)” substitute “ that activity (or that part of an activity) ”,
(c)after “its trade” insert “ or business ”,
(d)for “those activities” substitute “ that activity (or that part) ”, and
(e)after “separate trade” insert “ or business ”.
(3)In subsection (4)—
(a)after “section 37” insert “ , 62 or 66 ”, and
(b)after “CTA 2010” insert “ or section 259 or 260(3) of this Act ”.