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Finance (No. 2) Act 2005

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Changes over time for: Paragraph 8

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There are currently no known outstanding effects for the Finance (No. 2) Act 2005, Paragraph 8. Help about Changes to Legislation

8U.K.In paragraph 8 of Schedule 7 (acquisition relief)—

(a)in sub-paragraph (1)(b) for “the first and second conditions” substitute “ all the conditions ”, and

(b)after sub-paragraph (5) insert—

(5A)The third condition is that the undertaking or part acquired by the acquiring company has as its main activity the carrying on of a trade that does not consist wholly or mainly of dealing in chargeable interests.

In this sub-paragraph “trade” has the same meaning as in the Taxes Act 1988.

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