There is a ‘qualifying change’ in a
company’s interest in a business on any day when its
percentage share in the profits of the partnership business at the
end of the day is less than its percentage share at the start of
the day.
Any change in partnership sharing arrangements will
constitute a qualifying change including a reduction to a nil share
so that if a company leaves a partnership or a partnership is
dissolved this too will constitute a ‘qualifying change in a
company’s interest in a business.
