857Partners to whom the remittance basis [F1applies] U.K.
(1)This section applies if—
(a)a firm carries on a trade wholly or partly outside the United Kingdom,
(b)the control and management of the trade is outside the United Kingdom, and
[F2(c)section 809B, 809D or 809E of ITA 2007 (remittance basis) applies to a partner for a tax year.]
(2)The partner's share of the profits of the trade arising in the United Kingdom is determined in accordance with sections 849 to [F3851].
(3)The partner's share of the profits of the trade arising outside the United Kingdom is treated as relevant foreign income F4....
Textual Amendments
F1Word in s. 857 heading substituted (with effect in accordance with Sch. 7 para. 81 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 70(4)
F2S. 857(1)(c) substituted (with effect in accordance with Sch. 7 para. 81 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 70(2)
F3Word in s. 857(2) substituted (6.4.2024 for the tax year 2024-25 and subsequent tax years) by Finance Act 2022 (c. 3), Sch. 1 paras. 26, 61(1)
F4Words in s. 857(3) omitted (with effect in accordance with Sch. 7 para. 81 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 7 para. 70(3)