BLM81075 - Sale of lessor companies and similar arrangements: partnerships: quantifying the PM amount (FA06/SCH10/PARA29)


This figure is calculated in the same way as for a company carrying on a business of leasing on its own account for the purposes of paragraph 17. See BLM80515 above

The following modifications are made to paragraph 17:

  • ‘Relevant company’ is read as a reference to the partnership.
  • ‘Associated company’ is read as ‘qualifying company.

In calculating the PM figure, adjustments are made to include plant or machinery assets transferred into the partnership from qualifying companies at the start of the day.

A ‘qualifying company’ is:

  1. the partner company that you are considering

  2. any company which is an associated company of that partner company

  3. any other partner company whose interest in the business falls

  4. any other partner company in relation to which there is a qualifying change of ownership on the day; and

  5. any company which is an associated company of any other partner company mentioned in (c) or (d).

These companies are the same companies as were identified for the purposes of determining the PM figure in order to decide whether a company is carrying on a business of leasing plant or machinery in partnership. See BLM81040.

Home|Main Contents|Manual Contents

Previous Page|Next Page|Top|Menu