Section 415 — Corporation Tax Act 2010: “Qualifying change” in company's interest in a business

“Qualifying change” in company's interest in a business 415 1 For the purposes of the sales of lessors Chapters there is a qualifying change in a company's interest in a business on any day if its relevant percentage share at the end of the day is less than its relevant percentage share at the start of the day.

2 In this section “ relevant percentage share ”, in relation to a company's interest in a business, means its percentage share in the profits or loss of the business (determined in accordance with section 416).

3 For the purposes of this section any reference to a company's share in the profits or loss of the business includes a nil share (whether as a result of the dissolution of the partnership or otherwise).