Expert guidance on the planning points and pitfalls to be aware of when considering the taxation of partnerships, including LLPs. The books has a range of examples to illustrate the key points. The appendices include a useful table of the penalties that may apply to partnerships, and an illustration of the main clauses in a partnership agreement that have a taxation effect.
Brought up to date with Finance Act 2018 as well as providing full analysis of the effects of the legislation on partnership taxation (Finance (No.2) Act 2017) concerning:
Profit sharing arrangements between partners
Reporting requirements and who is to be treated as the partner in various circumstances
Also includes updates on:
SDLT and partnerships
Commentary on the use of partnerships in tax avoidance arrangements including how the Accelerated Payment Notice regime operates in the context of partnerships.
Inclusion of cases such as Belcher (existence of partnership between husband and wife); TabrezAkhtar and Badzyan (both on procedural matters); Clavis Liberty 1 LP and Samarkand (both on tax avoidance) and Balvinder Rai (regarding partner payment notices).