Section 113A | Exclusion of amounts contributed to access relief ^F1

(1)An amount which an individual contributes to a firm as capital is to be excluded in calculating the individual's contribution to the firm for the purposes of section 104 or 110 if the contribution was made for a prohibited purpose (but see subsection (4)).^F1

(2)If—^F1

(a)an individual carries on a trade as a member of an LLP at a time in a tax year,^F1

(b)the individual does not devote a significant amount of time to the trade in the relevant period for that year, and^F1

(c)the individual contributes an amount to the LLP as capital at any time in that year,^F1

that amount is to be excluded in calculating the individual's contribution to the LLP for the purposes of section 107 if the contribution was made for a prohibited purpose (but see subsection (4)).

(3)For the purposes of this section a contribution is made for a prohibited purpose if the main purpose, or one of the main purposes, of making the contribution is the obtaining of a reduction in tax liability by means of sideways relief or capital gains relief.^F1

(4)This section has no effect in relation to the application of any restriction under section 104, 107 or 110 to any loss that derives wholly from qualifying film expenditure.^F1