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Chapter PM141000

Document Cited authorities 1 Cited in Related
Vincent
Published date10 April 2016
Record NumberPM141000
CourtHM Revenue & Customs

A guide to the Legal Framework of SA for Partnerships can be found at SALF500 onwards.

S848 Income Tax (Trading and Other Income) Act 2005, S1258 Corporation Tax Act 2009

For the purpose of charging the profit made by a business carried on in partnership to Income Tax or Corporation Tax, a partnership is not regarded as an entity separate and distinct from the partners.

This is the case even where the partnership, as in Scotland, does in law have legal personality. But for the purposes of taxing third party (agency) income, a partnership is treated as a separate entity.

However, some legal obligations and rights remain with the partnership. For instance although Income Tax and Corporation Tax are charged on each partner separately rather than on the partnership, the partnership is still required to make a return of...

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