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HMRC internal manual

Business Income Manual

HM Revenue & Customs
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Partnerships - computation and assessment: partner’s notional trade: basis period rules

S853 Income Tax (Trading and Other Income) Act 2005

The normal basis period rules for trade profits (and losses) apply to each partner’s notional trade.

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

For examples as to how these rules are applied to partners, see BIM82330.