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A 'Firm' Favourite, But Not Without Problems

Peter Kempster, Nabarro Nathanson, and Deputy President of the Chartered Institute of Taxation, our Guest Editor for this special issue, examines partnerships as business vehicles and introduces the issue

 
Peter Kempster Nabarro Nathanson and Deputy President of the Chartered Institute of Taxation our Guest Editor for this special issue examines partnerships as business vehicles and introduces the issue
 
Partnerships have been a feature of the business scene for a very long time. They predate joint stock companies (the precursors of the modern limited liability company) and the approach adopted by the English courts was to analyse partnerships as a special form of contractual relationship between the partners rather than some body separate from the partners (the Scots took a different view). By the last quarter of the 19th century it was...

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