Partners are entitled to loss relief in respect of their share of partnership losses in the same way as other traders. Consequently, the income tax and corporation tax loss relief provisions applying for the relief of business losses generally are in point.

Computation of partnership losses is covered at Chapter 9, allocation of losses to partners (and reallocation where appropriate) is covered at Chapter 10.

Once the partnership loss has been established and allocated among the partners each individual partner or corporate partner must claim their/its own loss relief.

Individual partners: income tax relief

Broadly, the options available to an individual partner are:

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