C1Part 3Trading income
Annotations:
Modifications etc. (not altering text)
Chapter 5Trade profits: rules allowing deductions
Redundancy payments etc
80Application of section 79 in cases involving partnerships
1
This section deals with the application of section 79 in circumstances where—
a
there is a change in the persons carrying on a trade, and
b
the trade is carried on by persons in partnership before or after the change (or at both those times).
2
The employer is treated for the purposes of section 79 as permanently ceasing to carry on the trade unless a company carrying on the trade in partnership immediately before the change continues to carry it on in partnership after the change.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)