PM163080 - Partner's notional trade
S852 Income Tax (Trading and Other Income) Act 2005
For the purpose of computing individual partners바카라 사이트™ Income Tax liabilities the share of trade profits allocated to each partner is treated as having been derived from a separate, 바카라 사이트˜notional trade바카라 사이트™, which that partner carries on alone.
If the partnership business comprises two or more trades, each partner will also have two or more notional trades.
This guidance at PM163090- PM163140 applies only for the purposes of Income Tax. See CTM36500 onwards for guidance on corporate partners.
Where a partner is an 바카라 사이트™indirect partner바카라 사이트™ (see PM132100) in a partnership or partnerships the share of trade profits allocated to each partner from each partnership are treated as having been derived from a separate, 바카라 사이트˜notional trade바카라 사이트™, which each partner carries on alone.