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S853 Income Tax (Trading and Other Income) Act 2005

»Ê¹ÚÌåÓýapp normal basis period rules for trade profits (and losses) apply to each partner’s notional trade. »Ê¹ÚÌåÓýappse rules also apply to each partner’s notional trade when they are ‘indirect partnersâ€�.

Detailed instructions on the basis period rules are at BIM81000 onwards.

For examples as to how these rules are applied to partners, see PM163140.

For an example of how these rules apply to an indirect partner, see PM163150