BIM72300 - Partnerships: Computation & assessment: Other Income: Partner’s Basis Period: Losses

You use the same basis period rules as set out in BIM72295 to calculate relievable losses from non - Case I/II Schedule D sources (ICTA88/S111 (13)(a)).

But, you should note that the ‘second deemed trade’ only determines the basis period for a loss. The Case I/II loss rules do not apply. Instead the loss relief rules appropriate to the particular Case or Schedule determine the way in which you can relieve the loss. For example, Case VI losses can only be used against other Case VI income.