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16(1)This paragraph determines the amount of the income under paragraph 3 when a qualifying change of ownership in relation to a company (“the relevant company”) carrying on a business of leasing plant or machinery occurs on any day (“the relevant day”).
(2)The amount of the income is found by—
(a)applying the following formula to give the basic amount, and
(b)making any adjustment in accordance with any of paragraphs 19 to 21 to the basic amount.
(3)The formula is—
PM - TWDV
(4)For this purpose—
“PM” has the meaning given by paragraph 17, and
“TWDV” has the meaning given by paragraph 18.
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