Part 9

Leasing plant or machinery
Chapter 4

Sales of lessors: leasing business carried on by a company in partnership

“Qualifying change” in company's interest in a business

“Qualifying change” in company's interest in a business
415
1
For the purposes of the sales of lessors Chapters there is a qualifying change in a company's interest in a business on any day if its relevant percentage share at the end of the day is less than its relevant percentage share at the start of the day.
2
In this section “relevant percentage share”, in relation to a company's interest in a business, means its percentage share in the profits or loss of the business (determined in accordance with section 416).
3
For the purposes of this section any reference to a company's share in the profits or loss of the business includes a nil share (whether as a result of the dissolution of the partnership or otherwise).