SCHEDULES

SCHEDULE 2Transitionals and savings

Part 5Losses (except losses on disposal of shares)

Reliefs for non-active partners not to exceed contribution to the firm

30

1

The relief covered by section 110(5) includes—

a

relief given for a loss as a result of section 380 or 381 of ICTA, and

b

the treatment of a loss as an allowable loss by virtue of section 72 of FA 1991.

2

Sub-paragraph (1) is subject to paragraph 33.

3

The income covered by section 110(6) includes amounts treated as received as a result of the application of section 74 of FA 2005.