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Finance Act 2014

Background Note

43.This change is part of a wider review of certain parts of the partnership rules announced in Budget 2013.

44.A consultation document, Partnerships: A review of two aspects of the tax rules, was published on the GOV.UK website on 20 May 2013 and the consultation closed on 9 August 2013.

45.This element of the partnerships review measure is discussed in the consultation document under the headings: Partnerships with mixed membership – profits and Partnerships with mixed membership - losses.

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