Introduction Overview Chapter 3: Limited partners and members of limited liability partnerships Section 59: Restriction on relief for members of LLPs
228.This section restricts certain reliefs available to a company that is a member of a limited liability partnership (LLP) to the amount of the company’s contribution to the LLP. It is based on sections 118 and 118ZB of ICTA.
229.Subsection (6) sets out how to apply subsection (4) and so limit relief if the firm is carrying on more than one trade. See Change 8 in Annex 1.