Section 1269 Interpretation of sections 1267 and 1268F1

United Kingdom

In sections 1267 and 1268—

(a)

“profit-sharing arrangements” means the rights of the partners to share in the profits of the trade or property business (as the case requires), and

(b)

references to the date on which the new basis was adopted are to the first day of the first period of account for which it was adopted.

Annotations

F1: Word in s. 1269 substituted (with effect in accordance with s. 381(1) of the amending Act) by virtue of Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 311 (with Sch. 9 paras. 1-9, 22)