Partnership Full 38 - Overlap Relief

Overlap relief may be due for 6 April 2020 to 5 April 2021 on your share of untaxed investment income if:

• you ceased to be a partner in the tax year 6 April 2020 to 5 April 2021
• the partnership changed its accounting date in the tax year 6 April 2020 to 5 April 2021 and your basis period, is more than 12 months
• the partnership's business ceased in the tax year 6 April 2020 to 5 April 2021

In such circumstances the relief is to be given first against your total untaxed income. If there is an excess, this can be set off against your total income for the tax year 6 April 2020 to 5 April 2021. For more information on how this relief is calculated follow the link Help Sheet 222 - How to calculate your taxable profits. This tells you how to work out overlap profits and how to claim overlap relief.

If you have any overlap relief to claim please enter it in this box.