PDC Copyprint (South) (A Partnership) (1997) Sp C 141
Mr THK Everett.
Decision released 21 October 1997.
Income tax – Partnership – ‘Salary’ paid to one of the partners – Resulting loss – Whether loss relief available in assessing the partners’ tax liability – Appeal dismissed.
The issue was whether loss relief was available in respect of salaries paid to two partners.
PDC Copyprint (South) (‘the partnership’) was established as a partnership of Mr Marks, Mr Ricketts and Mr Jones on 13 January 1986. Mr Marks resigned on 1 May 1989 and was replaced by his wife, with the agreement of the other continuing partners.