BIM72275 - Partnerships: Computation & assessment: Other Income: Computation of Income

Where a partnership has any source(s) of non-Case I/II income (‘other income’) you determine the amount of any assessable income (or relievable losses) as if the partnership were an individual - ICTA88/S111 (2), (as applied by ICTA88/S111 (7) and ICTA88/S111 (10)).

This rule applies regardless of whether the income is taxed income, or untaxed income, and irrespective of the Case or Schedule in which the source of income falls. But it only applies to income, not chargeable gains. You should use the computational rules appropriate to each Case or Schedule to determine the amount of any such assessable income (or relievable loss). But you apply the special basis period rules in relation to the share of ‘other income’ allocated to each partner - see BIM72285 onwards.