Access full legislation.And much more.
By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.
- AI tax research with linked legislation and Finance Act changes
- Commentary, official guidance, publications and training material
- Case law, appeals and tribunal decisions in one place
Income Tax (Trading and Other Income) Act 2005 section 854
Carrying on by partner of notional business
Section 854 explains how each partner in a trading firm is treated as carrying on their own separate "notional business" in respect of their share of the firm's untaxed non-trading income or relievable losses, and sets out when that notional business starts and ends.
Access full legislation.And much more.
By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.