Where the partnership premises are owned by some of the partners, but outside of the partnership and not owned as a partnership asset, the position is much the same as if the property was held by third parties having no connection with the partnership. The joint owners are regarded as making supplies to the partnership of the lease, tenancy or licence under which the partnership occupies the premises. This involves the joint owners in making exempt supplies unless they opt to tax, in which case the supplies are normally standard-rated.

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