Part 9Leasing plant or machinery
Chapter 4Sales of lessors: leasing business carried on by a company in partnership
Qualifying changes in partner company's interest in business
423Adjustment to the basic amount
(1)
The amount of the company's income under section 417 is limited to the appropriate percentage of the basic amount.
(2)
The appropriate percentage is found by subtracting the company's relevant percentage share at the end of the day on which it is treated as receiving the income from its relevant percentage share at the start of the day.
(3)
In this section “” has the same meaning as it has for the purposes of section 415 (see subsection (2) of that section).