# Corporation Tax Act 2009, Paragraph 495


(1) Amend section 263 (qualifying activities carried on in partnership) as follows.
(2) For subsection (1)(c) substitute—
“(c) if the qualifying activity is a trade or property business, the condition in subsection (1A) or (1B) (whichever is appropriate) is met.”
(3) For subsection (1A) substitute—
“(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.
(1B) For corporation tax purposes, the condition is that a company carrying on the trade or property business in partnership immediately before the change continues to carry it on in partnership after the change.”

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Source: https://www.legislation.gov.uk/ukpga/2009/4/schedule/1/paragraph/495 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/schedule-1/paragraph-495
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.