Limited Partners: Restriction of Reliefs

Part of Orders of the Day — Finance Bill – in the House of Commons at 9:30 pm on 10th July 1985.

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No. 68, in page 128, line 16, leave out from '(3)' to end of line 19 and insert 'above—

  1. (a) in respect of a loss sustained by him in the trade, or of interest paid by him in connection with carrying it on, in any relevant year of assessment, or
  2. (b) as an allowance falling to be made to him for any relevant year of assessment either in taxing the trade or by way of discharge or repayment of tax to which he is entitled by reason of his participation in the trade;'.