[863I Allocation of profit to the AIFM firm]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[863I  Allocation of profit to the AIFM firm]

[(1)     This section applies for a period of account of the AIFM trade if—

(a)     the calculation under section 849 in relation to a partner (“P”) in the AIFM firm produces a profit, and

(b)     P's share of that profit determined under section 850, 850A or 850C would, apart from this section, be a profit consisting (wholly or partly) of relevant restricted profit (see subsections (6) to (9)) chargeable to income tax under Chapter 2 of Part 2.

(2)     P may allocate all or a part of the relevant restricted profit (“the allocated profit”) to the AIFM firm itself.

(3)     If P does so—

(a)     the allocated profit is to be excluded from P's share of the AIFM firm's profit mentioned in subsection (1)(b),

(b)

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