Related Commentary  Related HMRC Manuals

263(1)  This section applies if–

(a)a qualifying activity has been set up and is at any time carried on in partnership,

(b)there has been a change in the persons engaged in carrying on the qualifying activity, and

(c)if the qualifying activity is a trade or property business, the condition in subsection (1A) or (1B) (whichever is appropriate) is met.

263(1A)  For income tax purposes, the condition is that a person carrying on the trade or property business immediately before the change continues to carry it on after the change.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.