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. 71, in page 128, line 30, leave out from '(3)' to second 'in' in line 32 and insert 'below—

  1. (a) in respect of a loss incurred by a company in a trade, or of charges paid by a company in connection with the carrying on of a trade, in a relevant accounting period, or
  2. (b) as an allowance falling to be made to a company for a relevant accounting period either in taxing a trade or by way of discharge or repayment of tax to which it is entitled by reason of its participation in a trade;