Relief for its share of partnership trading losses may be restricted for an accounting period of a company if the company is a limited partner.

For these purposes, a limited partner is a company carrying on a trade:

as a limited partner in a limited partnership registered under the Limited Partnership Act 1907;

as a general partner with no management entitlement and restricted liability; or

as a joint owner under foreign law with no management entitlement and restricted liability,

(CTA 2010, s. 58).

The reliefs to which these provisions apply are as follows:

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