Part 17Partnerships
Calculation of partners' shares
1265Apportionment of profit share between partner's accounting periods
(1)
This section applies if—
(a)
a share of a profit or loss calculated for an accounting period of a firm is allocated to a company under any of sections 1262 to 1264, and
(b)
the accounting period of the firm does not coincide with an accounting period of the company.
(2)
The share of the profit or loss must be apportioned between the accounting periods of the company in which the accounting period of the firm falls.