SCHEDULES
SCHEDULE 2Transitionals and savings
Part 14Tax avoidance
Individuals in partnership: recovery of excess relief
142
In section 792(1)—
a
the reference to the claiming of relief includes a reference to the claiming of relief as mentioned in section 74(1)(a) and (b) of FA 2005, and
b
the reference to sections 104, 107 and 110 includes a reference to section 117 of ICTA (including as applied by section 118ZB of that Act) and section 118ZE of that Act.
143
1
The losses covered by section 794(1) and (2) in relation to a trade include losses within section 74(5) of FA 2005 made in the trade.
2
The income covered by section 794(3) includes amounts treated as received as a result of the application of section 74 of FA 2005.
3
Sub-paragraph (4) applies for the purposes of section 794(5) if, as a result of paragraph 142(b), the relevant restriction provision would be section 117 of ICTA (including as applied by section 118ZB of that Act) or section 118ZE of that Act.
4
The relevant restriction provision is instead taken to be—
a
in the case of section 117 of ICTA (other than as applied by section 118ZB of that Act), section 104,
b
in the case of section 117 of ICTA (as applied by section 118ZB of that Act), section 107, and
c
in the case of section 118ZE of ICTA, section 110.
5
In section 794(6) the reference to subsection (2)(b) includes a reference to section 74(11)(b) of FA 2005.