Related Commentary  Related HMRC Manuals

400(1)  This section applies in a tax year if–

(a)the partnership (“the film partnership” ) carries on a trade,

(b)the profits or losses of the trade are calculated in accordance with Chapter 9 of Part 2 of ITTOIA 2005 (films etc),

(c)the loan is secured on an asset or activity of another partnership (“the investment partnership” ),

(d)the individual to whom the loan is made (“A”) is or has been a member of the investment partnership, and

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