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Income Tax (Trading and Other Income) Act 2005
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537(1)Amend section 108 (effect of disposal to connected person on overseas leasing pool) as follows.U.K.
(2)In subsection (1) for paragraph (b) and the word “and” at the end of that paragraph substitute—
“(b)the disposal is one on the occasion of which—
(i)there was a change in the persons carrying on the qualifying activity which involved all of the persons carrying on that activity before the change permanently ceasing to carry it on, or
(ii)the qualifying activity carried on by the person making the disposal was not treated as continuing under section 114(1) or 343(2) of ICTA (effect of partnership changes involving companies or of company reconstructions), and”.
(3)Omit subsection (4).
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