# Finance Act 2004, Paragraph 8A


(1) The conditions in paragraph 8 (the compliance test: firms) do not need to be satisfied by the firm if, at the time of the application—
(a) one or more of the partners is already registered for gross payment as a partner in another firm or otherwise than as a partner in a firm, and
(b) that partner has, or those partners together have, a right to a share of at least half the assets, or at least half the income, of the firm.
(2) In sub-paragraph (1)(a) the reference to registration for gross payment does not include registration for gross payment by virtue of this paragraph or paragraph 12A (exception from compliance test: companies).

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/11/paragraph/8n1 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-11/paragraph-8n1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.