[F1212BWhere Chapter appliesU.K.
(1)This Chapter applies where—
(a)C carries on a trade (“the relevant trade”) (whether or not in partnership with another person or other persons),
(b)there is a qualifying change in relation to C on any day (“the relevant day”),
(c)C, or (where the relevant trade is carried on in partnership) the partnership (“P”), has a relevant excess of allowances in relation to the relevant trade, and
(d)the qualifying change has an unallowable purpose.
(2)Sections 212C to 212I specify when there is a qualifying change in relation to C on the relevant day.
(3)Sections 212J to 212L specify when C or P has a relevant excess of allowances in relation to the relevant trade.
(4)Section 212M specifies when the qualifying change has an unallowable purpose.
(5)Sections 212N to 212S make provision about what happens when this Chapter applies.]
Textual Amendments
F1Pt. 2 Ch. 16A inserted (8.4.2010) (with effect in accordance with Sch. 4 para. 5, 6 to the amending Act) by Finance Act 2010 (c. 13), Sch. 4 para. 2