- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/04/2005)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/04/2009
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(1)The provisions of the Taxes Act 1988 to which sections 215 and 216 of the M1Finance Act 1994 (partnerships and change of ownership of trade etc.) relate shall have effect as respects the year 1995-96 and subsequent years of assessment as if subsection (5)(b) of section 215 (amendments not to apply until the year 1997-98 to partnerships controlled abroad) were omitted; and the M2Taxes Act 1988 shall have effect—
(a)as respects the year 1997-98 and subsequent years of assessment, and
(b)in its application with the amendments made by those sections to partnerships whose trades, professions or businesses were set up and commenced on or after 6th April 1994, as respects the years 1995-96 and 1996-97,
with the further amendments specified in the following provisions of this section.
F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In section 114(1) (partnerships including companies), after the word “company”, in the second place where it occurs, there shall be inserted “ and, subject to section 115(4), as if that company were resident in the United Kingdom ”.
(5)In section 115 (provisions supplementary to section 114), for subsections (4) and (5) there shall be substituted the following subsections—
“(4)So long as a trade, profession or business is carried on by persons in partnership and any of those persons is a company which is not resident in the United Kingdom, section 114 shall have effect in relation to that company as if—
(a)the reference in subsection (1) to a company resident in the United Kingdom were a reference to a company that is not so resident; and
(b)in subsection (2), after “carried on” there were inserted “in the United Kingdom through a branch or agency”.
(5)Where the partners in a partnership include a company, subsections (4) and (5) of section 112 shall apply for the purposes of corporation tax as well as for the purposes of income tax, and section 114 shall have effect accordingly.”
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