Related HMRC Manuals

880(1)  This section applies for the purposes of this Chapter.

880(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, profession or vocation in partnership.

880(3)  The payment must be apportioned in a manner which is just and reasonable.

880(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 in partnership, and

(c)the asset is and continues to be used for the purposes of the trade.

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