Corporation Tax Act 2009 (c. 4)

Part 17 U.K. Partnerships

Modifications etc. (not altering text)

C1 Pt. 17 applied (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), s. 291

Introduction U.K.

1257 General provisions U.K.

(1) In this Act persons carrying on a trade in partnership are referred to collectively as a “firm”.

(2) This section and sections 1259 to 1266 are expressed to apply to trades, but unless otherwise indicated (whether expressly or by implication) also apply to businesses that are not trades.

(3) In those sections as applied by subsection (2)—

(a) references to a trade are references to a business, and

(b) references to the profits of a trade are references to the income arising from a business.