Part 4

Loss relief
Chapter 3

Limited partners and members of limited liability partnerships

Introduction

Introduction to Chapter
55
1
This Chapter restricts the amount of relief that may be given for any loss made by a company in a trade carried on by the company—
a
as a limited partner (see sections 56 to 58), or
b
as a member of a limited liability partnership (an “LLP”) (see sections 59 to 61).
2
In this Chapter persons carrying on a trade in partnership are referred to collectively as a “firm”.