SCHEDULES

SCHEDULE 19 Management: other amendments

Part I Amendments of Management Act

Interpretation

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(1)

In subsection (1) of section 118 of the Management Act (interpretation), after the definition of “return” there shall be inserted the following definitions—

““successor”, in relation to a person who has made and delivered a return under section 12AA of this Act, and “predecessor” and “successor”, in relation to the successor of such a person, shall be construed in accordance with section 12AC(6) of this Act;”.

(2)

Subsection (3) of that section (effect of assessments in partnership name) shall cease to have effect.

(3)

Sub-paragraph (2) above, so far as it relates to partnerships whose trades, professions or businesses are set up and commenced before 6th April 1994, has effect as respects the year 1997-98 and subsequent years of assessment.