Part 9Partnerships
Firms with a foreign element
857Partners to whom the remittance basis may apply
1
This section applies if—
a
a firm carries on a trade wholly or partly outside the United Kingdom,
b
the control and management of the trade is outside the United Kingdom, and
c
a partner who is a UK resident individual—
i
meets condition A or B in section 831 (conditions to be met for income to be charged on the remittance basis), and
ii
makes a claim to that effect for a tax year.
2
The partner’s share of the profits of the trade arising in the United Kingdom is determined in accordance with sections 849 to 856.
3
The partner’s share of the profits of the trade arising outside the United Kingdom is treated as relevant foreign income for the purposes of this Act (see Part 8).