[850B Loss-making period in which some partners have profits]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[850B  Loss-making period in which some partners have profits]

[(1)     For any period of account, if—

(a)     the calculation under section 849 in relation to a partner (“A”) produces a loss, and

(b)     A's share determined under section 850 is a profit,

A's share of the loss of the trade is neither a profit nor a loss.

(2)     For any period

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