The main computational rules that apply specifically to partnerships are located in ITTOIA 2005, Pt. 9 (for income tax purposes) and CTA 2009, Pt. 17 (for corporation tax purposes).
A partnership is not to be regarded for tax purposes as an entity separate and distinct from the partners (ITTOIA 2005, s. 848; CTA 2009, s. 1258). This means that the partnership itself is not assessed to income or corporation tax and has no liability to tax.
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