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Partnership taxation

Language: English Series: Inland Revenue Press Release ; 23 November 1992 (3)Publication details: 1992Subject(s): Summary: 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.

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.