Paragraph 16 F1

P's “share of the partnership through direct interest companies that are members of the partnership” is found by—

(a)

calculating the percentage which is P's indirect share of the partnership through each direct interest company that is a member of the partnership (see paragraph 17), and

(b)

where there are two or more direct interest companies that are members of the partnership, adding those percentages together.

Annotations

Textual amendments

F1: Sch. 7ZA inserted (with effect in accordance with Sch. 13 para. 6(1) of the amending Act) by Finance Act 2016 (c. 24), Sch. 13 para. 5

Notes on Schedule 7ZA

Textual amendments

F2: Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))