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Legislation
Income Tax (Trading and Other Income) Act 2005

Crossheading Calculation of partners' shares

  • Section 849 Calculation of firm's profits or losses
  • Section 850 Allocation of firm's profits or losses between partners
  • Section 850A Profit-making period in which some partners have losses
  • Section 850B Loss-making period in which some partners have profits
  • Section 850C Excess profit allocation to non-individual partners
  • Section 850D Excess profit allocation: cases involving individuals who are not partners
  • Section 850E Payments by B out of the excess part of B's profit share
  • Section 851 Calculations etc. where firm has other income or losses
  1. Calculation of partners' shares
  2. Calculations etc. where firm has other income or losses

Section 851 | Calculations etc. where firm has other income or losses

From legislation.gov.uk

(1)This section applies if—

(a)sections 849 and 850 apply in relation to the profits or losses of a trade carried on by a firm, and

(b)the firm has other income or losses.

(2)Those sections also apply as if references to the profits or losses of the trade were references to the other income or losses.

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