Paragraph 7A F1
Sub-paragraphs (2) and (3) apply where—
a person (“P”) who was a controlling member of a partnership at the time when a defeat notice (“the original notice”) was given to the partnership has ceased to be a member of the partnership,
the defeat notice had effect in relation to the partnership at the time of that cessation, and
P is carrying on a business as a promoter.
An authorised officer may give P a defeat notice.
If P is carrying on a business as a promoter in partnership with one or more other persons and is a controlling member of that partnership (“the new partnership”), an authorised officer may give a defeat notice to the new partnership.
A defeat notice given under sub-paragraph (3) ceases to have effect if P ceases to be a member of the new partnership.
A notice under sub-paragraph (2) or (3) may not be given after the original notice has ceased to have effect.
A defeat notice given under sub-paragraph (2) or (3) is given in respect of the relevant defeat or relevant defeats to which the original notice relates.
Annotations
Textual amendments
- F1
Sch. 36 para. 7A and cross-heading inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(14)