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Textual Amendments
F1Pt. 12A Ch. 4 inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 4 para. 5 (with Sch. 9 paras. 1-9, 22)
(1)This section applies for the purposes of this Chapter.
(2)Subsection (3) applies if—
(a)a payment is made,
(b)it is one for which a deduction by way of relevant tax relief is allowed, and
(c)it is made by persons carrying on a trade or profession in partnership.
(3)The payment must be apportioned in a manner which is just and reasonable.
(4)Subsection (5) applies if—
(a)a sum is obtained in respect of an interest in an asset,
(b)the sum is obtained by persons carrying on a trade or profession in partnership, and
(c)the asset is and continues to be used for the purposes of the trade or profession.
(5)The sum must be apportioned between the partners in the shares in which they are entitled to the profits of the trade or profession at the time the sum is obtained.
(6)Subsection (7) applies if—
(a)a sum is obtained in respect of an interest in an asset, and
(b)the sum is obtained by persons jointly entitled to the interest.
(7)The sum must be apportioned according to their respective rights in the interest.
(8)Subsections (6) and (7) are subject to subsections (4) and (5).
(1)Subsections (2) and (3) apply if—
(a)a payment or sum is to be apportioned under section 681DJ or under section 880 of CTA 2010,
(b)at the time of the apportionment it appears that it is material to the liability to tax (whether income tax or corporation tax, and for whatever period) of two or more persons (in this section referred to collectively as “the set”),
(c)a question arises as to the manner in which the payment or sum is to be apportioned, and
(d)at the time of the apportionment, it appears that the apportionment is material to the income tax liability (for whatever period) of—
(i)a person, or some two or more persons, in the set, or
(ii)all the persons in the set.
(2)For the purposes of income tax of the person or persons mentioned in subsection (1)(d), the question is to be determined in the same way as an appeal.
(3)All the persons in the set are entitled to be a party to the proceedings.]
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