PART XIX SUPPLEMENTAL

Interpretation

F2842B Meaning of F1. . . “property investment LLP”

(1)

In F3the Corporation Tax Acts—

(a)

F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

a “property investment LLP” means a limited liability partnership whose business consists wholly or mainly in the making of investments in land and the principal part of whose income is derived therefrom.

(2)

Whether a limited liability partnership is F5. . . a property investment LLP is determined for each period of account of the partnership.

F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .