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Finance Act 2008
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61Non-active partners
(1)In section 103B(2) of ITA 2007 (meaning of “non-active partner” for purposes of provisions restricting trade loss relief), for “carried on for the purposes of the trade” substitute “of the trade and those activities are carried on—
(a)on a commercial basis, and
(b)with a view to the realisation of profits as a result of the activities.”
(2)The amendment made by subsection (1) has effect in relation to relevant periods ending on or after 12 March 2008.
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