{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-847",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-847.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/847",
  "kind": "section",
  "number": "847",
  "heading": "General provisions",
  "text": "(1) In this Act persons carrying on a trade in partnership are referred to collectively as a “firm”.\n(2) The provisions of this Part which are expressed to apply to trades also apply, unless otherwise indicated (whether expressly or by implication) —\n(a) to professions, and\n(b) in the case of this section and sections 849, 850, 857 and 858 to businesses that are not trades or professions.\n(3) In those sections as applied by subsection (2)(b)—\n(a) references to a trade are references to a business, and\n(b) references to the profits of a trade are references to the income arising from a business.\n(4) For the purposes of this Part, a person is an indirect partner in a partnership (“the underlying partnership”) if the person is a partner in—\n(a) a partnership which is a partner in the underlying partnership, or\n(b) any partnership which is an indirect partner in the underlying partnership by virtue of the preceding application of this subsection.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 847(2) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 638 (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 847(4) inserted (with effect in accordance with Sch. 6 para. 5(5) of the amending Act) by Finance Act 2018 (c. 3), Sch. 6 para. 5(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/847",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}