BIM72285 - Partnerships: Computation & assessment: Other Income: Partner’s Basis Periods

The basis of assessment for the shares of ‘other income’ allocated to each partner depends on whether that income is

• taxed - see BIM72325 - or untaxed income - see BIM72330 onwards

and on whether the partnership is

• a trading or professional partnership, or
• a partnership with an investment business (that is a business which is not a trade or profession) - see BIM72405

For these purposes ‘untaxed income’ is defined by ICTA88/S111 (12) as income that is not

• income from which income tax has been deducted, or
• income from, or on which, income tax is treated as having been deducted or paid, or
• income chargeable under Schedule F (dividends and other distributions).