PM197000 - Active LLP members: example
Y becomes an active member of an LLP on 6 April 2011, introducing capital of £100,000 into the LLP on that date. The LLP carries on a trade.
Y바카라 사이트™s share of the LLP바카라 사이트™s trading losses is as follows, and he claims trade loss relief against general income.
Year ended 5 April 2012
£60,000
Ìý
Ìý
Year ended 5 April 2013
£60,000
Y is only entitled to set the losses against his other income or gains as follows:
2011/12
£60,000
(unrelieved capital contribution £40,000)
Ìý
Ìý
Ìý
2012/13
£40,000
(total relief limited to capital contribution of £100,000; unrelieved loss £20,000)
Ìý
Unless Y makes a further capital contribution in a later year, the unrelieved balance of the loss for 2012/13 (£20,000) will only be available to be carried forward and set against Y바카라 사이트™s share of the LLP바카라 사이트™s profits from the same trade for later years.
Guidance on giving sideways loss reliefs for unrelieved amounts if further capital contributions are made is atÌýPM198000.