104 Returns relating to LLP not carrying on business etc with view to profit
Finance Act 2020 (2020 c 14) | Legislation

104  Returns relating to LLP not carrying on business etc with view to profit

(1)     In TMA 1970 after section 12ABZA insert—

“12ABZAA Returns relating to LLP not carrying on business etc with view to profit

(1)     This section applies where—

(a)     a person delivers a purported partnership return (“the relevant return”) in respect of a period (“the relevant period”),

(b)     the relevant return—

(i)     is made on the basis that the activities of a limited liability partnership (“the LLP”) are treated, under section 863 of ITTOIA 2005 or section 1273 of CTA 2009, as carried on in partnership by its members (“the purported partnership”), and

(ii)     relates to the purported partnership, but

(c)     the LLP does not carry on a business with a view to profit in the relevant period (and, accordingly, its activities are not treated as mentioned in paragraph (b)(i)).

(2)     For the purposes of the relevant enactments, treat the relevant return

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