SCHEDULES

SCHEDULE 35 U.K. Roll-over relief in respect of ships

Amendment of provisions relating to roll-over relief in respect of ships U.K.

6 (1) In section 33F (procedural provisions), in subsection (4)—

(a) for “An attribution made for the purposes of section 33A(5) or 33C” there shall be substituted “ Subject to subsection (4A) below, an attribution in accordance with section 33A(5) ”; and

(b) for “the person giving the notice” there shall be substituted “ the shipowner ”.

(2) After that subsection there shall be inserted the following subsection—

“(4A) A notice by the shipowner under subsection (4) above shall not have effect in a case where the shipowner and the qualifying person to whose expenditure the notice relates are not the same person unless that person joins with the shipowner in the giving of that notice.”