Explanatory Notes

Finance Act 2015

2015 CHAPTER 11

26 March 2015

Introduction

Section 112: Treatment of a Person Who is a Member of a Partnership

Details of the Section

2.Subsections (1) and (2) provide that, where a person is a member of a partnership, references to the expenses, income or revenue, or a reduction in income, of the person includes references to the person’s share of the expenses, income or revenue, or a reduction in the income, of the partnership.

3.Subsection (3) defines what is meant by “the person’s share”.