88(1)Section 705 (company carrying on overseas property business) is amended as follows.U.K.
(2)In subsection (2), for “3” substitute “ 5 ”.
(3)In subsection (9), in the words after paragraph (b), for “3” substitute “ 5 ”.
(4)The amendments made by this paragraph do not have effect unless both the change in ownership referred in section 705(1) and the major change in the nature or conduct of a trade or business referred to in section 705(2) occur on or after 1 April 2017.