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5(1)The [1968 c. 3.] Capital Allowances Act 1968 shall be amended as follows.
(2)In section 6(5)(a), for " Case VIII of Schedule D " substitute " Schedule A ".
(3)For section 12(3) substitute—
“(3)The reference in this section to the permanent discontinuance of a trade does not include a reference to the happening of any event which, by virtue of section 154 or 251(1) of the principal Act (changes in persons carrying on a trade, and special rules for corporation tax), is to be treated as equivalent to the discontinuance of the trade.”
(4)At the end of section 15 add—
“(4)Section 42 of the [1970 c. 9.] Taxes Management Act 1970 shall apply to any claim under this section for relief from corporation tax, but, without prejudice to section 71(3) of this Act, not to any other claim under this section.”
(5)In section 48(1), for paragraphs (a) and (b) substitute " of section 154 or 251(1) of the principal Act (changes in persons carrying on a trade, and special rules for corporation tax) ".
(6)In section 67(3), for the words from the beginning to " permanently discontinued " substitute—
“(3)For the purposes of this section, a trade shall not be treated by virtue of section 154 or 251(1) of the principal Act (changes in persons carrying on a trade, and special rules for corporation tax) as permanently discontinued”.
(7)In section 69, in the definitions of " agricultural income " and " forestry income", for " Case VIII of Schedule D" substitute " Schedule A ".
(8)At the end of section 70(3) add—
“Section 42 of the Taxes Management Act 1970 shall not apply to any such claim.”.
(9)In section 71(3), for the words from "made to the inspector" to the end of the proviso substitute " (that is to say, a claim to which section 42 of the [1970 c. 9.] Taxes Management Act 1970 applies) ".
(10)In section 74(3), for " may claim" substitute " may, on making a claim (to which section 42 of the Taxes Management Act 1970 applies), require ".
(11)In section 74(4), for "Part IV of the Finance Act 1965 " substitute " the Corporation Tax Acts ".
(12)In section 79(1), for paragraphs (a) and (b) substitute " of section 154 or 251(1) of the principal Act (changes in persons carrying on a trade, and special rules for corporation tax) ".
(13)At the end of section 100 add—
“(5)In this Act " the principal Act" means the Income and Corporation Taxes Act 1970.”.
(14)In paragraph 8(1)(a) of Schedule 2, before " Schedule D" insert " Schedule A or ".
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