Capital Allowances Act 2001 section 212C

When there is qualifying change in relation to C

Section 212C defines the circumstances in which a "qualifying change" occurs in relation to company C on the relevant day, triggering the special provisions that restrict capital allowances following changes in company ownership or partnership arrangements.

• A qualifying change occurs where the principal company (or companies) of C changes during the relevant day, or where C acquires a principal company having not had one at the start of the day (Condition A).
• A qualifying change occurs where a consortium principal company increases its ownership proportion in C during the relevant day (Condition B).
• A qualifying change occurs where C ceases to carry on a trade (or part of one) and it begins to be carried on in partnership by two or more companies, under the transfer of trade without change of ownership rules (Condition C).
• A qualifying change occurs where C already carries on the relevant activity in partnership and its percentage share in that activity decreases (or falls to nil) during the relevant day (Condition D).