Lynnette Bober explains the rules for foreign domiciliaries rebasing relief, with some useful clarification from HMRC
Features and articles
Farmers have been able to claim entrepreneurs’ relief (ER) on qualifying gains made since 5 April 2008, paying just 10% tax. This article reflects on the conditions with references made to case decisions.
HMRC’s internal issues with the tax treatment of partners could lead to an unwieldy tax framework for partnerships if the proposals in the latest consultation on the tax treatment of partners gets the go-ahead. Mark Cawthron, specialist tax writer at CCH, unpicks the proposals.
A few years ago, the answer would most likely have been a Limited Liability Partnership (LLP) but evidence produced by the Solicitors Regulation Authority (SRA) in February 2017, shows a remarkable move away from this model. RSM explore why.
What happens when accounting disagreements arise within a partnership? Julie Butler highlights recent tribunals which give guidance.
ICAEW's Tax Faculty provide analysis of the announcements relating to business and company tax in the 2016 Autumn Statement.
The article explains the legal issues when a farming partnership comes to an end because of the retirement, bankruptcy or death of a partner.
The advantage of low corporation tax rates has made incorporation a very attractive proposition, leading to the establishment of a flurry of corporate partners within partnership structures.
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A full chapter on the taxation of partnerships, including limited partnerships and LLPs. The key piece of legislation is the Income Tax (Trading and Other Income) Act 2005.
A guide to financial and legal issues for GPs and managers of medical practices.
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
HMRC internal manual providing guidance on business partnerships and how they are taxed in the UK. It covers Self Assessment, calculating taxable profits, mixed member partnerships and international aspects, LLPs, and other tax obligations.
Article providing a summary of the new rules for partnership taxation, the implications of reforms and how businesses should prepare for the changes. It discusses nominee and bare trustee partner arrangements, partnerships as partners, and investment partnerships with non-UK resident partners.
Bulletin explaining new rules on partnership taxation affecting nominee arrangements, allocation of partnership profits, tiered partnerships, and investment partnerships.
Article covering changes to tax rules relating to partnerships and LLPs with more detailed discussion of bare trusts, allocation of profits or losses, basis periods for indirect partners, partnership returns, investment partnerships, and shares of profits and losses.
Draft legislation and explanatory note detailing proposed changes to income tax calculations for certain partnerships as part of Finance Bill 2017-18. The policy paper gives an overview of the background and proposals.
Factsheet explaining the rules re-attributing profits in mixed member partnerships and the salaried members rules applying to LLPs.
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