Individuals in partnership: exit chargeU.K.
150(1)The losses covered by section 805(1)(b) include losses in relation to which a claim is made as mentioned in section 126(1)(c) of FA 2004.U.K.
(2)The disposals covered by section 805(2)(a) and (b) do not include disposals made before 10 February 2004.
151(1)In section 806 at Step 4 non-taxable consideration received before 10 February 2004 is excluded.U.K.
(2)In section 806 at Step 5—
(a)the reference to section 805 includes a reference to section 127 of FA 2004, and
(b)the reference to chargeable events includes a reference to chargeable events for the purposes of section 127 of FA 2004.
152(1)This paragraph applies for the purposes of sections 805 to 807 if the individual carried on the trade at any time before 26 March 2004.U.K.
(2)Any reference to expenditure incurred in the trade in exploiting the licence does not include expenditure incurred before 10 February 2004.
153U.K.The losses covered by section 807(4) include losses in relation to which a claim has been made as mentioned in section 128(2)(a) or (b) of FA 2004.