SCHEDULES

SCHEDULE 36 U.K.Promoters of tax avoidance schemes: partnerships

PART 2 U.K.Conduct notices and monitoring notices

Person continuing to carry on partnership business as a sole trader U.K.

7 (1) This paragraph applies where— U.K.

(a) a person or persons have ceased to be members of a partnership,

(b) immediately before the cessation, a [F1 defeat notice,] conduct notice or monitoring notice had effect in relation to the partnership, and

(c) immediately after the cessation, a person who was a member of the partnership immediately before the cessation is carrying on the business of the partnership, but not in partnership.

(2) Where this paragraph applies, the [F2 defeat notice,] conduct notice or monitoring notice continues (despite paragraphs 1 and 2) to have effect in relation to the person mentioned in sub-paragraph (1)(c) (but, in relation to times when the business is not being carried on in partnership, the notice is not regarded for the purposes of this Part of this Act as a notice that has been given to a partnership.)

Textual Amendments

F1 Words in Sch. 36 para. 7(1)(b) inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(12)

F2 Words in Sch. 36 para. 7(2) inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(13)