Partnership taxation
Partnership taxation
- 1992
- Inland Revenue Press Release 23 November 1992 (3) .
A relaxation of Income and Corporation Taxes Act 1988 s113(2) will allow a partnership to avoid the fresh tax assessment on a change of partners. Election for continuation of the tax assessment will require the agreement of all partners past and present.
INCOME AND CORPORATION TAXES ACT 1988 S113(2)
PARTNERSHIP INCOME
PARTNERSHIPS
TAX LIABILITY
A relaxation of Income and Corporation Taxes Act 1988 s113(2) will allow a partnership to avoid the fresh tax assessment on a change of partners. Election for continuation of the tax assessment will require the agreement of all partners past and present.
INCOME AND CORPORATION TAXES ACT 1988 S113(2)
PARTNERSHIP INCOME
PARTNERSHIPS
TAX LIABILITY