[25B Excluded trades]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[25B  Excluded trades]

[(1)     A trade is an excluded trade in relation to a tax year if the trade meets any of conditions A to G.

(2)     Condition A is that—

(a)     the person who is or has been carrying on the trade is a firm, and

(b)     one or more of the persons who have been partners in the firm at any time during the tax year was not an individual at that time.

(3)     Condition B is that the person who is or has been carrying

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Removal of a director

Removal of a directorThis note should be read in conjunction with Practice Note: Appointment, retirement and resignation of a director.For an illustration of the steps that must be taken to remove a director, see Removal of a director—flowchart.Removal from officeResolution to remove a directorA

LEXISNEXIS

Fraud by false representation

Fraud by false representationFraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the

LEXISNEXIS

Rescission of a contract

Rescission of a contractWhat is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual

LEXISNEXIS

Interim injunctions—the American Cyanamid guidelines

Interim injunctions—the American Cyanamid guidelinesThis Practice Note is concerned with substantive interim injunctions, which are a particular species of injunction granted on a temporary basis ahead of trial. As set out below, there are different considerations depending on whether the interim