72(1)Section 673 (introduction to Chapter 2: disallowance of trading losses) is amended as follows.U.K.
(2)In subsection (2), for “of 3 years in which the change in ownership” substitute “ beginning no more than 3 years before the change in ownership occurs which is a period of 5 years in which that change ”.
(3)In subsection (4), in the words after paragraph (b), for “3” substitute “ 5 ”.
(4)The amendments made by this paragraph do not have effect unless both the change in ownership referred to in section 673(1) and the major change in the nature or conduct of a trade referred to in section 673(2) occur on or after 1 April 2017.