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Partnership Law And Taxation

Continuing our series of basic, informative articles, Rupert Shiers and Carl Pastars, solicitors in the Tax Litigation team at McGrigors, explain the legal nature and UK taxation treatment of partnerships

 
Continuing our series of basic informative articles Rupert Shiers and Carl Pastars solicitors in the Tax Litigation team at McGrigors explain the legal nature and UK taxation treatment of partnerships
 
The UK taxation treatment of partnership profits and dealings between partners is a little complicated. First the underlying legal rules on which the tax treatment bites can be complex. Secondly despite the simplifications ten years ago in the Finance Act 1994 the tax rules themselves can be a little confusing. Further almost uniquely in UK tax the capital gains treatment of partnership activities is not...

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