http://www.legislation.gov.uk/ukpga/2005/5/section/851/2009-04-01
Income Tax (Trading and Other Income) Act 2005
An Act to restate, with minor changes, certain enactments relating to income tax on trading income, property income, savings and investment income and certain other income; and for connected purposes.
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Statute Law Database
2024-05-30
Expert Participation
2009-04-01
C1Part 9Partnerships
Annotations:
Modifications etc. (not altering text)
Calculation of partners' shares
851Calculations etc. where firm has other income or losses
1
This section applies if—
a
sections 849 and 850 apply in relation to the profits or losses of a trade carried on by a firm, and
b
the firm has other income or losses.
2
Those sections also apply as if references to the profits or losses of the trade were references to the other income or losses.
Pt. 9 modified (with effect as mentioned in Sch. 6 para. 6(2)-(7) to the amending Act) by Income and Corporation Taxes Act 1988 (c. 1) , s. 774D(4) as inserted by Finance Act 2006 (c. 25), s. 76, Sch. 6 para. 6(1)