Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 2 U.K. Plant and machinery allowances

Modifications etc. (not altering text)

C2 Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 3 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)

C3 Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1

C4 Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1

C5 Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1

C6 Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19

C7 Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35

C8 Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37

C9 Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24

C10 Pt. 2 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 73(7)-(11) (with s. 73(6))

C11 Pt. 2 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 9(1)(a)

[F1 Chapter 16A U.K. [F2 Restrictions on allowance buying]

Textual Amendments

F1 Pt. 2 Ch. 16A inserted (8.4.2010) (with effect in accordance with Sch. 4 para. 5, 6 to the amending Act) by Finance Act 2010 (c. 13), Sch. 4 para. 2

F2 Pt. 2 Ch. 16A heading substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 4

Qualifying change U.K.

212C When there is qualifying change in relation to C U.K.

(1) There is a qualifying change in relation to C on the relevant day if one or more of conditions A to D is met.

(2) Condition A is that—

(a) the principal company or companies of C at the beginning of the relevant day is not, or are not, the same as at the end of that day, or

(b) there is no principal company of C at the beginning of the relevant day but there is one, or are more than one, at the end of the relevant day.

(3) Condition B is that—

(a) any principal company of C is a consortium principal company (“CPC”), and

(b) CPC's ownership proportion at the end of the relevant day is more than at the beginning of the relevant day.

(4) Condition C is that [F3 the relevant activity is a trade (within the meaning of this Part) and] on the relevant day—

(a) C ceases to carry on the whole or part of the relevant [F4 activity], and

(b) it begins to be carried on in partnership by two or more companies,

in circumstances in which Chapter 1 of Part 22 of CTA 2010 (transfers of trade without change of ownership) applies in relation to the transfer of the relevant [F4 activity].

(5) Condition D is that—

(a) the relevant [F5 activity] is, at the beginning of the relevant day, carried on by C in partnership, and

(b) C's relevant percentage share in the relevant [F5 activity] at the end of the relevant day is less than at the beginning of the relevant day (or is nil).]

Textual Amendments

F3 Words in s. 212C(4) inserted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 6(2)(a)

F4 Word in s. 212C(4) substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 6(2)(b)

F5 Word in s. 212C(5) substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 6(3)