110 Restriction on reliefs for non-active partners in early tax years

Non-active members of LLPs or other partnerships (apart from limited partnerships)

110  Restriction on reliefs for non-active partners in early tax years

(1)     This section applies if—

(a)     an individual carries on a trade (“the relevant trade”) as a non-active partner in a firm during an early tax year . . ., and

(b)     the individual makes a loss in the relevant trade in that tax year (“the relevant tax year”).

(2)     There is a restriction on the amount of relief within subsection (3) which may be given to the individual for the loss.

(3)     The relief within

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