- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(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 (see section 112), 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 this subsection is—
(a)sideways relief against the individual’s income apart from profits of the relevant trade, and
(b)capital gains relief.
(4)The restriction is that—
(a)the sum of the amount of the relief given and the total amount of all other relevant relief given, less
(b)the total amount of recovered relief,
must not exceed the individual’s contribution to the firm as at the end of the basis period for the relevant tax year (see section 111).
(5)“Relevant relief” means sideways relief or capital gains relief given to the individual for—
(a)a loss made in the relevant trade in a tax year at a time during which the individual carries on that trade as a limited partner or as a member of an LLP, or
(b)a loss made in the relevant trade in an early tax year during which the individual carries on that trade as a non-active partner.
(6)“The total amount of recovered relief” means the total amount of income treated as received by the individual under section 792 (recovery of excess relief) as a result of the application of that section in relation to claims for relief for losses made by the individual in the relevant trade.
(7)If the firm is carrying on, or has carried on, other trades apart from the relevant trade, for the purpose of determining the total amount of all other relevant relief and the total amount of recovered relief—
(a)apply subsection (5) in relation to each other trade as well as the relevant trade and then add the results together, and
(b)apply subsection (6) as if the reference to the relevant trade were a reference to the relevant trade or any of the other trades.
(8)In this section “trade” does not include a trade which consists of the underwriting business of a member of Lloyd’s (within the meaning of section 184 of FA 1993).
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
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