There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Paragraph 541.
541(1)Amend section 125 (other qualifying purposes) as follows.U.K.
(2)In subsection (3) for paragraph (c) substitute—
“(c)a person who acquired the plant or machinery from X as a result of a disposal on the occasion of which, or two or more disposals on the occasion of each of which—
(i)there was a change in the persons carrying on the qualifying activity which did not involve 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 treated as continuing under section 114(1) of ICTA (effect of partnership changes involving companies).”
(3)Omit subsection (5).
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
