SCHEDULES

SCHEDULE 2Transitionals and savings

Part 5Losses (except losses on disposal of shares)

Reliefs for limited partners not to exceed contribution to the firm

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1

The relief covered by section 104(5) includes—

a

relief given for a loss as a result of section 380 or 381 of ICTA,

b

any amount that, ignoring this Act, would have been included in the individual's aggregate amount in relation to the trade for the purposes of section 117 of ICTA as a result of paragraph 22(3) of Schedule 2 to CAA 2001, and

c

the treatment of a loss as an allowable loss by virtue of section 72 of FA 1991.

2

The income covered by section 104(6) includes amounts treated as received as a result of the application of section 74 of FA 2005.