– see also Solicitors; Sole traders

£25,000 cap

Commentary – Ford on Tax Losses 3.3.3

'see-through' analysis

Commentary – Stamp Taxes Reporter ¶110-005

Acceptance of a grant

Commentary – Rossdale: Probate and Administration of Estates ¶6-030

Accounting basis

Commentary – Tax Reporter ¶206-300 ; Tax Reporter ¶707-180

Accounting periods

Legislation/Regulatory – CTA2009 s. 1261
HMRC Guidance – CTM02130 ; CTM36510

Acquisition of interest

Commentary – Land Transaction Tax (Wales) ¶306-165

Activities of a company as a member

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 3, para. 13

Adjustment income

Legislation/Regulatory – ITTOIA2005 s. 860

Admission and retirement of partners

Commentary – Tax Reporter ¶286-480

Admission of new partner, supply of services for consideration

Case Law – KapHag Renditefonds v Finanzamt Charlottenburg (Case C-442/01). [2005] BVC 566

Admission of partner in return for capital payment

Commentary – Indirect Tax Reporter ¶11-010 ; Indirect Tax Reporter ¶18-640

Agreement

Commentary – Tax Reporter ¶286-120

Agricultural property relief

Accruer arrangements

Legislation/Regulatory – Misc. 114

Generally

Commentary – Tax Reporter ¶659-550

Limited partnerships

Commentary – Tax Reporter ¶659-700

Occupation by

Legislation/Regulatory – IHTA84 s. 119

Occupation for two years

Commentary – Tax Reporter ¶658-500
HMRC Guidance – IHTM24073 ; IHTM24074
Case Law – Execs of Harrold dec'd

Qualification for relief

Commentary – Tax Reporter ¶659-600
HMRC Guidance – IHTM24153

Rate of relief

Commentary – Tax Reporter ¶659-650

Replacement

Legislation/Regulatory – IHTA84 s. 118(3)
HMRC Guidance – IHTM24110 ; IHTM24111 ; IHTM24112 ; IHTM24113

Transfers made before 10 March 1981

Commentary – Tax Reporter ¶660-700

Alleged cessation of trade

Case Law – Watts and Others (trading as Messrs. A. A. Watts) v. Hart (H.M. Inspector of Taxes). [1984] BTC 343

Allocation of profits or losses

Change in profit sharing arrangements

Commentary – Tax Reporter ¶289-370

Corporate partners

Commentary – Tax Reporter ¶289-425

Generally

Commentary – Tax Reporter ¶289-340

Interest on capital

Commentary – Tax Reporter ¶289-395

Loan relationship debit and credits

Commentary – Tax Reporter ¶289-440

Reallocation

Commentary – Tax Reporter ¶289-410
Case Law – PDC Copyprint (South) (A Partnership)

Salaries

Commentary – Tax Reporter ¶289-395

Untaxed income

Commentary – Tax Reporter ¶289-780

Annual tax on enveloped dwellings

Commentary – Chanda on Property Investment 13.5.3
Legislation/Regulatory – FA2008 Sch. 36, para. 37(2B)

Annuities

Legislation/Regulatory – SP 1/79 ; SP D12

Annuities provided by

Commentary – Tax Reporter ¶286-660

Anti-avoidance

Generally

Commentary – Stamp Taxes Reporter ¶11-400 ; Stamp Taxes Reporter ¶110-215–Stamp Taxes Reporter ¶110-220 ; Stamp Taxes Reporter ¶110-415 ; Tax Reporter ¶292-195

Anti-avoidance provisions, non-active partners

Legislation/Regulatory – SI 2005/2017 ; SI 2006/1639

Application of

Commentary – Land Transaction Tax (Wales) ¶306-530

Application of exemptions and reliefs

Charities relief to partnership transactions

Commentary – Land Transaction Tax (Wales) ¶306-635

Exemptions under Schedule 3

Commentary – Land Transaction Tax (Wales) ¶306-605

Generally

Commentary – Land Transaction Tax (Wales) ¶306-600

Group relief - as applied to Sch. 7, Part 4 partnership transactions

Commentary – Land Transaction Tax (Wales) ¶306-615

Group relief - key concepts on availability

Commentary – Land Transaction Tax (Wales) ¶306-610

Group relief - modification pertaining to calculating SLP

Commentary – Land Transaction Tax (Wales) ¶306-630

Group relief - modification pertaining to withdrawal provisions

Commentary – Land Transaction Tax (Wales) ¶306-625

Group relief - types of partnership

Commentary – Land Transaction Tax (Wales) ¶306-620

Notification

Commentary – Land Transaction Tax (Wales) ¶306-640

Application of partnership rules to leases

Chargeable consideration

Commentary – Land Transaction Tax (Wales) ¶306-455

Generally

Commentary – Land Transaction Tax (Wales) ¶306-450

Application to

Commentary – Tax Reporter ¶290-695

Apportionment of income

Commentary – Quick Overview ¶62120

Arrangements

Commentary – Stamp Taxes Reporter ¶110-435 ; Stamp Taxes Reporter ¶110-650

As investment vehicles

Commentary – Chanda on Property Investment 2.5

Ascertaining income shares

Commentary – Stamp Taxes Reporter ¶110-320

Assessment

Commentary – Indirect Tax Reporter ¶58-100

Assessments

Business constituting a partnership

Case Law – Wild & Anor (t/a Audrey's Pianos) v Revenue and Customs Commissioners. [2009] BVC 236

Change of name

Case Law – Scrace v Revenue and Customs Commissioners. [2007] BVC 791

Generally

Legislation/Regulatory – CTA2009 s. 1258 ; ITTOIA2005 s. 848
HMRC Guidance – CTM36540 ; SAIM9070 ; TTM13020

Made against individual partners

Case Law – Customs and Excise Commissioners v. Evans and Ors. (trading as The Grape Escape Wine Bar). (1981) 1 BVC 455

Assessments, time-limits

Commentary – Tax Reporter ¶184-375
Case Law – Harrison (H.M. Inspector of Taxes) v. Willis Bros.

Asset based approach, Lady Fox case

Commentary – Tax Reporter ¶532-900

Assets

Generally

Commentary – Tax Reporter ¶286-465
HMRC Guidance – CG27200

Let to, replacement

Legislation/Regulatory – SP D11

Rebasing rules for disposals before, on or after 6 April 2008

Legislation/Regulatory – HMRCBrf 09/09 ; SP 1/89

Assurance policies, inheritance tax

Legislation/Regulatory – ESC F10

Avoidance schemes

Commentary – Tax Reporter ¶291-375

Bare trusts

Legislation/Regulatory – FA2018 Sch. 6, Pt. 1

Basic principles

Commentary – Stamp Taxes Reporter ¶110-000–Stamp Taxes Reporter ¶110-010

Basis periods for partner's notional trade

Legislation/Regulatory – ITTOIA2005 s. 853

Borrowing to invest in

Commentary – Chanda on Property Investment 7.3

Business carried on by

Legislation/Regulatory – VATA94 s. 46(2)

Business carried on in Jersey, double taxation relief

Case Law – Padmore v Inland Revenue Commissioners (No. 2). [2001] BTC 36

Business property relief

Accruer arrangements

Legislation/Regulatory – Misc. 114

Buy and sell agreements

Commentary – Tax Reporter ¶665-050

Buy or sell agreements

Legislation/Regulatory – Misc. 117

Property of transferor used by

Commentary – Tax Reporter ¶664-750
HMRC Guidance – IHTM25222

Replacement

Legislation/Regulatory – IHTA84 s. 107(3)

Transfer of assets

Commentary – Tax Reporter ¶665-300

Buy and sell agreements

Commentary – Tax Reporter ¶665-050

Calculation of firm's profits or losses

Allocation between partners

Legislation/Regulatory – ITTOIA2005 s. 850

Generally

Legislation/Regulatory – ITTOIA2005 s. 849

Loss-making period

Legislation/Regulatory – ITTOIA2005 s. 850B

Non-trading income

Legislation/Regulatory – ITTOIA2005 s. 851

Partners' shares

Legislation/Regulatory – ITTOIA2005 s. 849-851

Profit-making period

Legislation/Regulatory – ITTOIA2005 s. 850A

Qualifying film expenditure, meaning

Legislation/Regulatory – ITA2007 s. 103D

Calculation of profits and losses

Accounting periods

Legislation/Regulatory – CTA2009 s. 1261

Allocation between partners

Legislation/Regulatory – CTA2009 s. 1262
HMRC Guidance – BLM81030 ; CFM35120

Apportionment of profit share between partner's accounting periods

Legislation/Regulatory – CTA2009 s. 1265

Generally

Legislation/Regulatory – CTA2009 s. 1259, 1260
HMRC Guidance – CFM52710 ; CFM52720 ; CIRD25060 ; CIRD260120 ; CIRD81220 ; CTM02130 ; INTM261030 ; TTM13020

Loss-making period in which some partners have profits

Legislation/Regulatory – CTA2009 s. 1264
HMRC Guidance – BIM82245 ; CTM36510

Profit-making period in which some partners have losses

Legislation/Regulatory – CTA2009 s. 1263
HMRC Guidance – BIM82245 ; CTM36510

Capital

Cost of raising, input tax

Commentary – Indirect Tax Reporter ¶19-160

Introduction

Commentary – Indirect Tax Reporter ¶11-010 ; Indirect Tax Reporter ¶18-640

Capital allowances

Commentary – Tax Reporter ¶235-450 ; Quick Overview ¶60070
HMRC Guidance – CA15300

Capital contribution (restriction to amount of)

Commentary – Ford on Tax Losses 3.3.2

Capital gains tax

Accounting adjustments

Commentary – Quick Overview ¶62180

Assessments

Commentary – Quick Overview ¶1750

Assets

Commentary – Quick Overview ¶62165

Assets received in kind

Commentary – Quick Overview ¶62170

Generally

Commentary – Quick Overview ¶62160

Partnership sharing ratios, changes

Commentary – Quick Overview ¶62175

Payments outside accounts

Commentary – Quick Overview ¶62185

Residence

Commentary – Quick Overview ¶14315

Transfers not at arm's length

Commentary – Quick Overview ¶62190

Capital gains tax, general provisions

Legislation/Regulatory – SP 1/79 ; SP 1/89 ; SP D12 ; TCGA92 s. 59
HMRC Guidance – CG10731 ; CG11000 ; CG27000 ; CG27020 ; CG27100 ; CG27150 ; CG27170 ; CG45722 ; CG60260 ; CG62093 ; CG64084 ; CG66883 ; CTM36505 ; LAM03620

Carrying on a 'business'

Commentary – Stamp Taxes Reporter ¶110-000

Case stated, proper appellant

Case Law – Re Sutherland & Partners. [1993] BTC 220

Change in partners

Commentary – Quick Overview ¶62110

Change in partnership asset-sharing ratios

Commentary – Tax Reporter ¶286-570
HMRC Guidance – CG27540

Change of accounting basis

– see also Change of accounting basis

Generally

Commentary – Tax Reporter ¶711-150

Changes in

Generally

Commentary – Practical Capital Allowances ¶120-100

Know-how allowances

Commentary – Practical Capital Allowances ¶550-350

Changes in circumstances, notification

Commentary – Indirect Tax Reporter ¶43-300

Changes in sharing ratios

Legislation/Regulatory – SP D12

Changes in tax rules

Commentary – Quick Overview ¶62100

Character

Commentary – Tax Reporter ¶286-045

Chargeable gains

Charge to tax

Commentary – Tax Reporter ¶503-200

Companies

Commentary – Tax Reporter ¶753-350

Replacement of business assets

Commentary – Tax Reporter ¶571-950

Residence

Commentary – Tax Reporter ¶591-500

Retirement relief

– see Retirement relief (disposals to 5 April 2003)

Transfer of an asset by a partner to the partnership

Commentary – Tax Reporter ¶290-200

Chargeable interests

Generally

Commentary – Land Transaction Tax (Wales) ¶306-160

Interpretation

Commentary – Stamp Taxes Reporter ¶110-625–Stamp Taxes Reporter ¶110-635

Transfers from partnerships

Commentary – Stamp Taxes Reporter ¶110-500–Stamp Taxes Reporter ¶110-515

Transfers of partnership interests

Commentary – Stamp Taxes Reporter ¶110-400–Stamp Taxes Reporter ¶110-445

Transfers to partnerships

Commentary – Stamp Taxes Reporter ¶110-300–Stamp Taxes Reporter ¶110-335

Chargeable transactions

Commentary – Stamp Taxes Reporter ¶110-605

Civil fraud penalty

Commentary – Indirect Tax Reporter ¶59-788

Civil partners

Commentary – Tax Reporter ¶289-310

Claims

Commentary – Tax Reporter ¶191-785

Class 4 contributions

– see also Class 4 contributions

Generally

Legislation/Regulatory – NICA2014 s. 13 ; SSCBA92 Sch. 2, para. 4

Closure notice

Validity

Case Law – Lam & Anor (t/a Sunlight Takeaway Meals) [2016] TC 05385

Collecting in assets

Commentary – Rossdale: Probate and Administration of Estates ¶24-010

Commencement or cessation of partner's notional trade

Legislation/Regulatory – ITTOIA2005 s. 852
HMRC Guidance – INTM163130

Commissioners' regulations

Legislation/Regulatory – VATA94 s. 46(2)

Companies

– see Company partnerships

Company

Generally

Legislation/Regulatory – ITA2007 Sch. 2, para. 8

Leasing plant and machinery, restriction on use of losses

Legislation/Regulatory – CAA2001 s. 261A ; FA2006 s. 83(4)-(6)

Loan relationships

Legislation/Regulatory – IRInt. 240

Overpaid tax, recovery of

Legislation/Regulatory – FA98 Sch. 18, para. 51D, 51F

Company members

Commentary – Quick Overview ¶62130

Competent appellant

Case Law – Re Sutherland & Partners [1994] BTC 183

Compliance

Legislation/Regulatory – FA94 s. 62

Compliance issues

Commentary – Stamp Taxes Reporter ¶110-430

Connected persons

Commentary – Stamp Taxes Reporter ¶110-645 ; Quick Overview ¶14665

Consequences of

Commentary – Tax Reporter ¶286-135

Consideration

Capital introduced

Commentary – Indirect Tax Reporter ¶11-010

Share, purchase and disposal

Commentary – Indirect Tax Reporter ¶11-011

Continuation after death

Commentary – Rossdale: Probate and Administration of Estates ¶24-050

Continuation election

Case Law – R v Special Commissioners, ex parte Tracy. [1996] BTC 68

Continuity rule

Commentary – Land Transaction Tax (Wales) ¶306-170

Contribution of asset

Commentary – Tax Reporter ¶286-600
HMRC Guidance – CG27940

Controlling member, meaning

Legislation/Regulatory – FA2014 Sch. 36, para. 19

Corporate partners

Commentary – Ford on Tax Losses 3.3.2Ford on Tax Losses 8.2.11

Corporation tax overview

Legislation/Regulatory – CTA2009 s. 1256

Cost of raising capital, input tax

Case Law – Rock Lambert. [1992] BVC 536

Costs of recruiting new partners

Commentary – Tax Reporter ¶208-900

Creation

Conversion to LLP status

Commentary – Stamp Taxes Reporter ¶110-010

Date exist

Commentary – Tax Reporter ¶286-150

De-registration

Dissolved partnership and cash accounting scheme

Commentary – Indirect Tax Reporter ¶44-052

Formation or cessation of partnership

Commentary – Indirect Tax Reporter ¶43-920

Deduction for deemed employment payment

Legislation/Regulatory – ITTOIA2005 s. 163, 164

Deduction of tax at source, excepted payments

Legislation/Regulatory – ITA2007 s. 931-938

Deemed

Cessation

Legislation/Regulatory – VATA94 Sch. 1, para. 2(8)

Generally

Commentary – Indirect Tax Reporter ¶43-710
Legislation/Regulatory – VATA94 Sch. 1, para. 2(7)

Deemed employment payment, deduction for

Legislation/Regulatory – CTA2009 s. 140

Default surcharge, reasonable excuse

Case Law – Bernard & Smith. (1988) 3 BVC 688

Definition

Commentary – Stamp Taxes Reporter ¶110-000

Definitions

Connected persons

Commentary – Land Transaction Tax (Wales) ¶306-155

Generally

Commentary – Land Transaction Tax (Wales) ¶306-100

Partnership property

Commentary – Land Transaction Tax (Wales) ¶306-155

Partnership share

Commentary – Land Transaction Tax (Wales) ¶306-155

Transfers of chargeable interest

Commentary – Land Transaction Tax (Wales) ¶306-155

Derivative contracts

Determination of credits and debits

Legislation/Regulatory – CTA2009 s. 620

Fair value accounting

Legislation/Regulatory – CTA2009 s. 621

Generally

Legislation/Regulatory – CTA2009 s. 619

Determination, estimated and further assessments

Case Law – London & Essex Cleaning Services (Southern) [2010] TC 00309

Direct interest company, meaning

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 3, para. 14

Directors' fees

Commentary – Tax Reporter ¶289-060
Legislation/Regulatory – ESC A37
HMRC Guidance – BIM40351

Disposal of assets

Legislation/Regulatory – SP D12

Disposal of business on retirement

– see Retirement relief (disposals to 5 April 2003)

Disposals

Background

Commentary – Tax Reporter ¶292-210

Disposals of income streams

– see Disposals of income streams

Disposals of assets

Commentary – Tax Reporter ¶286-540
HMRC Guidance – BIM82058

Dissolution

Consequences

Commentary – Tax Reporter ¶286-795

Generally

Commentary – Tax Reporter ¶202-950 ; Tax Reporter ¶286-765–Tax Reporter ¶286-780
Case Law – HILLERNS AND FOWLER v. MURRAY (H.M. INSPECTOR OF TAXES). ; J. & R. O'KANE & CO. v. THE COMMISSIONERS OF INLAND REVENUE.

Limited liability partnership

Commentary – Tax Reporter ¶286-840

Dissolution on death

Commentary – Rossdale: Probate and Administration of Estates ¶24-020

Dissolution, partner's liability for VAT

Case Law – Jamieson v Customs and Excise Commissioners. [2002] BVC 354

Distribution of assets

Commentary – Tax Reporter ¶286-555

Double taxation agreements

Legislation/Regulatory – CTA2009 s. 1266

Dual residence

Commentary – Schwarz on Tax Treaties ¶14-150 ; Schwarz on Tax Treaties ¶14-200

Duration of

Commentary – Tax Reporter ¶286-165

Earnings basis, Walton case

Commentary – Tax Reporter ¶532-950

EEIGs

– see European Economic Interest Groupings (EEIGs)

Election by property investment partnership to disapply para. 10

Commentary – Stamp Taxes Reporter ¶110-330

Election to disapply Part 4 rules

Commentary – Land Transaction Tax (Wales) ¶306-535

Elections

Commentary – Tax Reporter ¶286-705

Employee share ownership plans

– see Share incentive plans (SIPs)

Employment and

Commentary – Tax Reporter ¶286-180

Enquiries

– see Enquiries

Equity partners

Commentary – Quick Overview ¶62115

Errors, penalty

Commentary – Indirect Tax Reporter ¶60-002
HMRC Guidance – CH82390 ; CH82450

Estate's entitlement from

Commentary – Rossdale: Probate and Administration of Estates ¶24-040

European Economic Interest Groupings

Commentary – Quick Overview ¶62155

Excess loss allocations

Commentary – Ford on Tax Losses 3.3.6

Exchanges of land

Commentary – Stamp Taxes Reporter ¶110-410

Existence

Case examples

Commentary – Indirect Tax Reporter ¶43-655

Estoppel

Case Law – Revenue and Customs Commissioners v Pal & Ors. [2008] BVC 3

Generally

Commentary – Indirect Tax Reporter ¶43-655

Validity of assessment

Case Law – (1982) 1 BVC 1,172 ; Revenue and Customs Commissioners v Pal & Ors. [2008] BVC 3

FA 2003, Sch. 15, Part 3 scope

Development of the provisions

Commentary – Stamp Taxes Reporter ¶110-205

Stamp duty

Commentary – Stamp Taxes Reporter ¶110-205

FA 2004 provisions

Commentary – Stamp Taxes Reporter ¶110-200–Stamp Taxes Reporter ¶110-220

Family

Commentary – Tax Reporter ¶286-105
HMRC Guidance – BIM82065

Family investment companies (as alternative)

Commentary – Woolley on Financial Planning with Trusts 15.4

Family members

Commentary – Tax Reporter ¶286-105
HMRC Guidance – BIM82065

Farming

Legislation/Regulatory – CTA2009 s. 1270 ; ITTOIA2005 s. 859

Film loss relief

Capital contribution

Commentary – Tax Reporter ¶263-840 ; Tax Reporter ¶291-310

Claimed losses, meaning

Commentary – Tax Reporter ¶263-830 ; Tax Reporter ¶291-295

Disposal of a right to profits

Commentary – Tax Reporter ¶263-820 ; Tax Reporter ¶291-280

Double counting prevention

Commentary – Tax Reporter ¶263-850 ; Tax Reporter ¶291-325

Film-related loss, meaning

Commentary – Tax Reporter ¶263-830 ; Tax Reporter ¶291-295

Generally

Commentary – Tax Reporter ¶263-500 ; Tax Reporter ¶263-800

Key conditions

Commentary – Tax Reporter ¶263-810 ; Tax Reporter ¶291-265

Film partnerships

Commentary – Ford on Tax Losses 3.3.5

Film trades

Interest relief restriction

Legislation/Regulatory – ITA2007 s. 400

Loss relief

– see Film loss relief

Foreign income

Commentary – Quick Overview ¶6500

Former partner's liability

Commentary – Indirect Tax Reporter ¶43-300

Forming a

Commentary – Tax Reporter ¶286-390

Gambling club, undeclared receipts

Case Law – Les Croupiers Casino Club v. Pattinson (H.M. Inspector of Taxes). [1985] BTC 353 ; Les Croupiers Casino Club v. Pattinson (H.M. Inspector of Taxes). [1987] BTC 475

General

Commentary – Chanda on Property Investment 2.5.2

General partnership

Commentary – Land Transaction Tax (Wales) ¶306-150

General provision

Legislation/Regulatory – CTA2009 s. 1257 ; FA96 s. 58 ; ITTOIA2005 s. 847, 848 ; VATA94 s. 45
HMRC Guidance – RDRM33530

General provisions

Legislation/Regulatory – FA2000 Sch. 6, para. 117 ; SI 2001/7 reg. 12

Generally

Commentary – Tax Reporter ¶1023-875 ; Tax Reporter ¶286-015 ; Land Transaction Tax (Wales) ¶306-000 ; Quick Overview ¶62100
Legislation/Regulatory – FA2001 s. 36 ; SI 2001/4027 reg. 12

Goodwill

Commentary – Tax Reporter ¶286-720

Goodwill and taper relief

Legislation/Regulatory – SP D12

Goodwill, transfer of business as going concern

Commentary – Indirect Tax Reporter ¶54-160

Group relief for SDLT and stamp duty

Commentary – Stamp Taxes Reporter ¶80-140

Husband and wife

Commentary – Tax Reporter ¶286-030

Husband and wife, registration

Jointly letting garages

Case Law – Green & Anor. [1993] BVC 628

Partnership or sole traders

Case Law – Leonidas & Anor. [2000] BVC 2,316

Income

Allocation of trading profits or losses

Commentary – Tax Reporter ¶289-340

Generally

Commentary – Quick Overview ¶62120

Income profit-sharing ratios

Commentary – Stamp Taxes Reporter ¶110-420

Indicia of

Commentary – Tax Reporter ¶286-075

Indirect partner

Notional trade and business

Legislation/Regulatory – FA2018 Sch. 6, Pt. 2

Individual becoming partnership

Commentary – Chanda on Property Investment 15.2

Individual partners

Commentary – Ford on Tax Losses 3.3.2

Information and inspection powers

Legislation/Regulatory – FA2008 Sch. 36, para. 37

Inheritance tax

Agricultural property relief

Commentary – Tax Reporter ¶658-500
HMRC Guidance – IHTM24073 ; IHTM24074
Case Law – Execs of Harrold dec'd

Charging provisions

Commentary – Tax Reporter ¶603-550

Input tax deduction

Acquisition of a portion of the client base of the partnership

Case Law – Finanzamt Saarlouis v Malburg (Case C-204/13) [2014] BVC 12

Contribution of client base free of charge to a new partnership

Case Law – Finanzamt Saarlouis v Malburg (Case C-204/13) [2014] BVC 12

Dissolution of a partnership

Case Law – Finanzamt Saarlouis v Malburg (Case C-204/13) [2014] BVC 12

Payment of input tax

Case Law – Finanzamt Saarlouis v Malburg (Case C-204/13) [2014] BVC 12

Insolvency, returns

Commentary – Indirect Tax Reporter ¶55-240

Interest on capital

Commentary – Quick Overview ¶62115 ; Quick Overview ¶62120

Interest on loans to purchase land, relief

Case Law – R. v. H.M. Inspector of Taxes, ex parte Brumfield & Ors. [1989] BTC 3

Interests

Assets basis

Commentary – Tax Reporter ¶532-800

CGT purposes

Commentary – Tax Reporter ¶532-650

Earnings basis

Commentary – Tax Reporter ¶532-850

Generally

Commentary – Tax Reporter ¶532-500

IHT purposes

Commentary – Tax Reporter ¶532-600

Limited liability partnerships

Commentary – Tax Reporter ¶532-550

Package valuation

Commentary – Tax Reporter ¶532-970

Intermediaries as

– see Intermediaries

Interpretation

Partnership property

Commentary – Stamp Taxes Reporter ¶110-620

Partnership share

Commentary – Stamp Taxes Reporter ¶110-620

Transfer of chargeable interest from partnership

Commentary – Stamp Taxes Reporter ¶110-635

Transfer of chargeable interest to partnership

Commentary – Stamp Taxes Reporter ¶110-625

Transfer of interest in partnership

Commentary – Stamp Taxes Reporter ¶110-630

IR35 rules

– see Personal service companies (IR35)

Jersey, UK resident partner exempt from UK tax

Case Law – Padmore v. Inland Revenue Commissioners. [1989] BTC 221

Joining partners

Commentary – Quick Overview ¶62110

Joint hearing of appeals

Case Law – Maharani Restaurant (a partnership); Empress of India Restaurant (a partnership). [2000] BVC 2,262

Judicial review challenging legality of PPNs

Case Law – R (on the application of Sword Services Ltd & Ors) v Revenue and Customs Commissioners [2015] BTC 40 ; Rowe & Ors v Revenue & Customs Commissioners [2015] BTC 27

Late appeal against assessment, Taxes Management Act 1970, s. 49

Case Law – Pollard [2016] TC 04908

Late elections

Legislation/Regulatory – SP 9/92

Late filing of returns

Case Law – B&J Shopfitting Services [2010] TC 00390 ; Beebe & Anor [2010] TC 00559 ; Davies Software Services [2010] TC 00428 ; Eamas Consulting LLP [2010] TC 00595 ; Express Agency [2010] TC 00368 ; Fleming (representative partner of Paul Kingston Furniture) [2010] TC 00405 ; Riaz [2011] TC 01096

Leaving partners

Commentary – Quick Overview ¶62110

Legal personality

Commentary – Stamp Taxes Reporter ¶11-400

Letting income

Commentary – Quick Overview ¶62120

Liability for SDLT

Commentary – Stamp Taxes Reporter ¶110-110

Liability to ATED charge

Commentary – Chanda on Property Investment 13.3.3

Liability to tax

Commentary – Quick Overview ¶5200

Licence-related losses

Agreement related to the licence

Commentary – Tax Reporter ¶263-900

Calculation of income chargeable to tax

Commentary – Tax Reporter ¶263-890

Chargeable event

Commentary – Tax Reporter ¶263-875

Disposal of the licence, meaning

Commentary – Tax Reporter ¶263-900

Generally

Commentary – Tax Reporter ¶263-875

Licence, meaning

Commentary – Tax Reporter ¶263-900

Non-active partner, meaning

Commentary – Tax Reporter ¶263-900

Profits relating to the licence, meaning

Commentary – Tax Reporter ¶263-900

Relevant disposal

Commentary – Tax Reporter ¶263-875

Licence-related trading losses

Calculation of amount of income treated as received

Legislation/Regulatory – ITA2007 s. 806, 807, Sch. 2, para. 151-153

Charge to tax

Legislation/Regulatory – ITA2007 s. 805, Sch. 2, para. 150

Disposal of the licence, meaning

Legislation/Regulatory – ITA2007 s. 808

Exit charge

Legislation/Regulatory – ITA2007 Sch. 2, para. 150-153

Interpretation

Legislation/Regulatory – ITA2007 s. 809

Treated as receiving income

Legislation/Regulatory – ITA2007 s. 805

LIFFE locals

Commentary – Indirect Tax Reporter ¶42-300(1)

Limited

Commentary – Tax Reporter ¶286-195 ; Quick Overview ¶62145 ; Chanda on Property Investment 2.5.3

Limited liability

Conditions of new rules

Commentary – Quick Overview ¶62105

Generally

Commentary – Chanda on Property Investment 2.5.4

Tantamount to employment

Commentary – Quick Overview ¶62105

Two aspects of partnership tax rules

Commentary – Quick Overview ¶62105

Limited liability partnerships

– see also Limited liability partnerships (LLPs)

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶24-030
Legislation/Regulatory – BB 3/2001-1

Limited partners

– see Limited partners

Limited partnerships

– see Limited partnerships

Limited, unit trust scheme

Legislation/Regulatory – SI 1988/268

Limited-liability partnership (LLP)

Commentary – Land Transaction Tax (Wales) ¶306-150

Lloyd's

– see Lloyd's underwriters

Loan relationships

Capital contributions, payments in return for

Legislation/Regulatory – CTA2009 s. 537
HMRC Guidance – CFM45430 ; CFM45440 ; CFM45460

Change of partnership shares

Legislation/Regulatory – CTA2009 s. 538
HMRC Guidance – CFM45430 ; CFM45440

Deeply discounted securities, partners' shares

Legislation/Regulatory – CTA2009 s. 385

Determination of credits and debits

Legislation/Regulatory – CTA2009 s. 381
HMRC Guidance – CFM36030

Exchange gains and losses

Legislation/Regulatory – CTA2009 s. 384

Fair value accounting

Legislation/Regulatory – CTA2009 s. 382

Generally

Legislation/Regulatory – CTA2009 s. 380, 536
HMRC Guidance – CFM36020 ; CFM45440 ; CFM45460 ; CFM52710 ; CFM61020

Lending between partners and partnership

Legislation/Regulatory – CTA2009 s. 383
HMRC Guidance – CFM36060

Loan to invest in partnership

– see Loan to invest in partnership

Loan to invest in, interest relief

Commentary – Quick Overview ¶3070

Loans to invest in, interest relief

Eligibility for

Legislation/Regulatory – ITA2007 s. 399, Sch. 2, para. 96

Film partnerships

Legislation/Regulatory – ITA2007 s. 400

Generally

Legislation/Regulatory – ESC A43 ; IRInt. 41 ; ITA2007 s. 398

Successions

Legislation/Regulatory – ITA2007 s. 410

Local authorities and partnership programmes

– see Local authorities and similar bodies

Loss relief restriction

Anti-avoidance rules

Commentary – Tax Reporter ¶263-700

Capital gains relief

Commentary – Tax Reporter ¶263-250

Contribution to the firm, meaning

Commentary – Tax Reporter ¶263-250

Exclusion of amounts in calculating contributions

Commentary – Tax Reporter ¶263-450 ; Tax Reporter ¶291-100

Films

Commentary – Tax Reporter ¶263-500

Firm, meaning

Commentary – Tax Reporter ¶263-250

Generally

Commentary – Tax Reporter ¶263-200
Case Law – (1) CURRIE v. THE COMMISSIONERS OF INLAND REVENUE. (2) DURANT v. THE COMMISSIONERS OF INLAND REVENUE. ; DAVIES (H.M. INSPECTOR OF TAXES) v. BRAITHWAITE ; THE COMMISSIONERS OF INLAND REVENUE v. MAXSE.

Limited liability partnerships

– see Limited liability partnerships (LLPs)

Limited partners

– see Limited partnerships

Non-active partners

Commentary – Tax Reporter ¶263-400

Recovery of excess relief

Commentary – Tax Reporter ¶263-725–Tax Reporter ¶263-755

Sideways relief, meaning

Commentary – Tax Reporter ¶263-250

Transitional provisions

Commentary – Tax Reporter ¶263-400

Unrelieved losses brought forward

Commentary – Tax Reporter ¶263-370 ; Tax Reporter ¶263-425 ; Tax Reporter ¶291-055

Losses

Commentary – Quick Overview ¶62140

Losses on miscellaneous transactions

Commentary – Ford on Tax Losses 7.1

Lump sums

Legislation/Regulatory – SP 1/79

Managed service companies

Commentary – Tax Reporter ¶408-650

Market-rent lease

Definitions

Commentary – Land Transaction Tax (Wales) ¶306-525

Meaning

Commentary – Stamp Taxes Reporter ¶110-000 ; Quick Overview ¶62100

Mergers and demergers

Legislation/Regulatory – SP 9/86 ; SP D12

Mergers of

Commentary – Tax Reporter ¶286-675

Mixed partnerships

– see Mixed partnerships

National Insurance contributions

Commentary – Quick Overview ¶12125 ; Quick Overview ¶12145 ; Quick Overview ¶13005 ; Quick Overview ¶13010 ; Quick Overview ¶2120

No VAT grouping

Commentary – Indirect Tax Reporter ¶43-300 ; Indirect Tax Reporter ¶43-420

Nominee directors

Commentary – Tax Reporter ¶1022-675
Case Law – Westek Ltd v. R & C Commrs

Non-active partners

– see Non-active partners

Non-active partners, restriction of loss and interest relief

Definitions

Commentary – Tax Reporter ¶263-250

Generally

Commentary – Tax Reporter ¶263-200 ; Tax Reporter ¶263-400 ; Tax Reporter ¶263-410
Case Law – (1) CURRIE v. THE COMMISSIONERS OF INLAND REVENUE. (2) DURANT v. THE COMMISSIONERS OF INLAND REVENUE. ; DAVIES (H.M. INSPECTOR OF TAXES) v. BRAITHWAITE ; THE COMMISSIONERS OF INLAND REVENUE v. MAXSE.

Unrelieved losses brought forward

Commentary – Tax Reporter ¶263-370 ; Tax Reporter ¶263-425 ; Tax Reporter ¶291-055

Non-active partners, restriction on reliefs

Amount of reliefs not to exceed cap

Legislation/Regulatory – FA2007 Sch. 4, para. 1 ; ITA2007 s. 103C

Contribution to the firm, meaning

Legislation/Regulatory – ITA2007 s. 111

Early tax years

Legislation/Regulatory – ITA2007 s. 110, 112, Sch. 2, para. 30

Exclusion of amounts in calculating contribution

Legislation/Regulatory – FA2007 Sch. 4, para. 2 ; ITA2007 s. 113A, 114, Sch. 2, para. 34

Film exploitation

– see Film loss relief

Licence-related losses

Legislation/Regulatory – ITA2007 s. 804-809

Loans

Legislation/Regulatory – SI 2005/2017

Non-active partner, meaning

Legislation/Regulatory – ITA2007 s. 103B, 112

Pre-10 February 2004 events

Legislation/Regulatory – ITA2007 Sch. 2, para. 32, 33

Recovery of excess relief

Legislation/Regulatory – ITA2007 s. 790-795

Unrelieved losses brought forward

Legislation/Regulatory – ITA2007 s. 113, Sch. 2, para. 31

Non-resident partners

Commentary – Quick Overview ¶6500

Notices served on partnership

Commentary – Indirect Tax Reporter ¶43-300

Notifiable transactions

Commentary – Stamp Taxes Reporter ¶110-610

Notional business or trade

Basis periods

Legislation/Regulatory – ITTOIA2005 s. 853, 855

Commencement or cessation

Legislation/Regulatory – ITTOIA2005 s. 852, 854

Overlap profits

Legislation/Regulatory – ITTOIA2005 s. 856

Nursing home, additional tax for undisclosed business receipts

Case Law – Malhi & Anor [2011] TC 01085

Open-ended investment companies

Commentary – Land Transaction Tax (Wales) ¶306-180

Option to tax

Generally

Case Law – Wrag Barn Golf and Country Club v Revenue and Customs Commissioners. [2012] BVC 1,679

Transfer of an interest in land

Case Law – Fengate Developments (a partnership) v Customs and Excise Commissioners. [2004] BVC 660 ; Fengate Developments (a partnership) v Customs and Excise Commissioners. [2005] BVC 34

Ordinary transactions

Commentary – Stamp Taxes Reporter ¶110-100–Stamp Taxes Reporter ¶110-110

Other interpretation provisions

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 4, para. 26

Overpaid tax, recovery of

Legislation/Regulatory – TMA70 Sch. 1AB, para. 5, 7

Overview

Commentary – Stamp Taxes Reporter ¶11-400

P, meaning

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 4, para. 24

Partner capacity

Commentary – Tax Reporter ¶286-090

Partner exempt from UK tax on overseas earnings

Case Law – Padmore v. Inland Revenue Commissioners. [1987] BTC 3

Partner holding an office

Commentary – Indirect Tax Reporter ¶10-665

Partner payment notices (PPNs)

Generally

Case Law – Rowe & Ors v Revenue & Customs Commissioners [2015] BTC 27

Issued in breach of general public law and unlawful interference with taxpayers' human rights

Case Law – R (on the application of Sword Services Ltd & Ors) v Revenue and Customs Commissioners [2015] BTC 40

Judicial review challenging legality of

Case Law – R (on the application of Graham & Ors) v Revenue and Customs Commissioners [2016] BTC 23 ; Sword Services Ltd & Ors v Revenue and Customs Commissioners [2016] BTC 24

Partner's private petrol

– see Road fuel

Partner's VAT liability

Commentary – Indirect Tax Reporter ¶43-300

Partners' removal expenses

Case Law – MacKinlay (H.M. Inspector of Taxes) v. Arthur Young McClelland Moores & Co. [1988] BTC 110

Partners' share of income

Allocation of firm's profits and losses between partners

Legislation/Regulatory – ITTOIA2005 s. 850

Calculation of firm's profits and losses

Legislation/Regulatory – ITTOIA2005 s. 849

Double taxation relief

Legislation/Regulatory – ITTOIA2005 s. 858

Generally

Legislation/Regulatory – ITTOIA2005 s. 847, 848

Non-trading income

Legislation/Regulatory – ITTOIA2005 s. 851

Notional business carried on by partner

Legislation/Regulatory – ITTOIA2005 s. 854-856

Notional trade carried on by partner

Legislation/Regulatory – ITTOIA2005 s. 852, 853

Remittance basis

Legislation/Regulatory – ITTOIA2005 s. 857
HMRC Guidance – RDRM33530

Partners' withdrawal from firm, payments made on

Case Law – Morgan; Self [2009] TC 00046

Partners, responsibility of

Generally

Legislation/Regulatory – FA2014 Sch. 36, para. 15

Joint and several liability

Legislation/Regulatory – FA2014 Sch. 36, para. 16

Nominated partners

Legislation/Regulatory – FA2014 Sch. 36, para. 18

Partnership business, division of

Legislation/Regulatory – FA2014 Sch. 36, para. 10

Partnership property

Generally

Commentary – Stamp Taxes Reporter ¶110-620

Market rent lease

Commentary – Stamp Taxes Reporter ¶110-405

Partnership return

Generally

Case Law – Lam & Anor (t/a Sunlight Takeaway Meals) [2016] TC 05385

Submitted late

Case Law – RPM (a partnership) [2018] TC 06662

Partnership share

Commentary – Stamp Taxes Reporter ¶110-620

Partnership trade regarded as single trade

Case Law – Revenue and Customs Commissioners v Vaines [2016] BTC 502

Partnerships other than property-investment partnerships

Commentary – Stamp Taxes Reporter ¶110-400

Patent rights, profits from exploitation of

Legislation/Regulatory – CTA2010 s. 357GB

Patent rights, sale of

Cessation of trade

Legislation/Regulatory – ITTOIA2005 s. 862

Changes of membership of firm

Legislation/Regulatory – ITTOIA2005 s. 861

Generally

Legislation/Regulatory – CTA2009 s. 1271, 1272

Patents

Commentary – Tax Reporter ¶266-050

Patents, spreading rules

Commentary – Tax Reporter ¶702-500

Payments between partners outside the accounts

Commentary – Tax Reporter ¶286-630
HMRC Guidance – CG27540

Penalties

Acceptance of Pt. 36 offer

Case Law – Stockler Charity (a firm) v Revenue and Customs Commissioners. [2008] BTC 26

Assessments for PAYE and National Insurance contributions (NICs)

Case Law – Ahmed & Anor (t/a Al Badar) [2014] TC 04033

Determination following settlement by agreement of amendment of returns

Case Law – Stockler v Revenue and Customs Commissioners. [2009] BTC 566

Entitlement to charge under TMA70, s. 95

Case Law – Stockler v Revenue and Customs Commissioners. [2010] BTC 692

Late submission of partnership tax return

Case Law – Burnand & Anor [2014] TC 03812 ; Castle Farm Partnership [2014] TC 03916 ; Davies (as representative partner of Able Cleaning Solutions LLP) [2014] TC 03968 ; Englefield (t/a Englefield Carpenters) [2017] TC 05727 ; Hicks & Anor [2017] TC 05842 ; Peter Haigh Partnership [2014] TC 03913

Penalties charged, upheld

Case Law – Newell & Anor (t/a Tanya's Takeaway) [2014] TC 03120

Penalties for errors

Legislation/Regulatory – FA2007 Sch. 24, para. 20

Penalty assessment for dishonest evasion

Case Law – Akbar & Ors t/a Mumtaz Paan House. [1998] BVC 2,157

Personal reliefs

Commentary – Quick Overview ¶62150

Personal representative, partner as

Commentary – Rossdale: Probate and Administration of Estates ¶24-060

Personal service companies

– see Personal service companies (IR35)

Personality

Commentary – Schwarz on Tax Treaties ¶14-050

Persons leaving the partnership

Conduct notices

Legislation/Regulatory – FA2014 Sch. 36, para. 8

Defeat notices

Legislation/Regulatory – FA2014 Sch. 36, para. 7A

Monitoring notices

Legislation/Regulatory – FA2014 Sch. 36, para. 9

Plant and machinery allowances

Effect of partnership changes

Legislation/Regulatory – CAA2001 s. 558

Generally

Commentary – Practical Capital Allowances ¶183-100 ; Tax Reporter ¶241-700 ; Tax Reporter ¶241-710

Leasing business, restriction on use of losses

Legislation/Regulatory – CAA2001 s. 261A ; FA2006 s. 83(4)-(6)

Qualifying activities

Legislation/Regulatory – CAA2001 s. 263
HMRC Guidance – CA29010

Using property of partner

Legislation/Regulatory – CAA2001 s. 264
HMRC Guidance – CA29020 ; CG15411 ; CG15425

Using property of partners

Commentary – Practical Capital Allowances ¶183-200

Post-transaction consideration

Effect of para. 17A

Commentary – Stamp Taxes Reporter ¶110-325

FA 2005 measure

Commentary – Stamp Taxes Reporter ¶110-325

Removal of double charge

Commentary – Stamp Taxes Reporter ¶110-325

Transition in Scotland to the Land and Buildings Transaction Tax

Commentary – Stamp Taxes Reporter ¶110-325

Pre-registration input tax, investment costs and invoices

Case Law – Kopalnia Odkrywkowa Polski Trawertyn P. Granatowicz, M. Wąsiewicz spółka jawna v Dyrektor Izby Skarbowej w Poznaniu (Case C-280/10). [2012] BVC 827

Principle of continuity, partnership statements

Case Law – Newell & Anor (t/a Tanya's Takeaway) [2014] TC 03120

Private tuition

Commentary – Indirect Tax Reporter ¶50-690

Profit share agreement amounting to

Case Law – Keydon Estates Ltd. (1990) 5 BVC 512

Profits and assets test

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 3, para. 15

Profits and losses

Partnership returns made final for tax purposes

Commentary – Tax Reporter ¶288-645

Property business

Adjustments on change of basis

Legislation/Regulatory – CTA2009 s. 1267

Generally

Legislation/Regulatory – CTA2009 s. 1270 ; ITTOIA2005 s. 859

Property income

Commentary – Quick Overview ¶62120

Property losses

Commentary – Ford on Tax Losses 4.2.5

Property partnerships

Disretionary trust income

Legislation/Regulatory – ITTOIA2005 s. 274B(1)

Restriction of relief for investment loan interest

Legislation/Regulatory – ITA2007 s. 399A

Tax reduction for individuals

Legislation/Regulatory – ITTOIA2005 s. 274A(1)

Tax reduction for non-deductible loan interest

Legislation/Regulatory – ITA2007 s. 399B

Property-investment partnerships

Commentary – Stamp Taxes Reporter ¶110-400

Rebates of management and performance fees, deductibility

Case Law – Revenue and Customs Commissioners v Lansdowne Partners Limited Partnership. [2011] BTC 224 ; Revenue and Customs Commissioners v Lansdowne Partners Limited Partnership. [2012] BTC 12

Records, negligence

Case Law – Seafield General Store & Post Office [2010] TC 00333

Recovery of excess loss relief

Calculation of amount treated as received

Legislation/Regulatory – ITA2007 s. 793

Charge to tax

Legislation/Regulatory – ITA2007 s. 791

Income treated as arising when chargeable event occurs

Legislation/Regulatory – ITA2007 s. 792, Sch. 2, para. 142

Overview

Legislation/Regulatory – ITA2007 s. 790

Post-1 December 2004 loss, meaning

Legislation/Regulatory – ITA2007 s. 795

Total amount of trade losses claimed

Legislation/Regulatory – ITA2007 s. 794, Sch. 2, para. 143

Recovery of excess relief

Amount of income treated as received

Commentary – Tax Reporter ¶263-745 ; Tax Reporter ¶291-220

Amount of trade losses claimed, meaning

Commentary – Tax Reporter ¶263-755 ; Tax Reporter ¶291-235

Chargeable events

Commentary – Tax Reporter ¶263-735 ; Tax Reporter ¶291-205

Conditions for charge

Commentary – Tax Reporter ¶263-735 ; Tax Reporter ¶291-205

Generally

Commentary – Tax Reporter ¶263-725

Individual's contribution to the firm, meaning

Commentary – Tax Reporter ¶263-755 ; Tax Reporter ¶291-235

Reclaimed relief, meaning

Commentary – Tax Reporter ¶263-755 ; Tax Reporter ¶291-235

Recovery of VAT

Commentary – Indirect Tax Reporter ¶58-620

Redemption of deductions

– see Redemption of deductions

Registration

Changes in circumstances, notifying HMRC

Commentary – Indirect Tax Reporter ¶43-300

Consideration for VATable services/distribution of partners' funds

Commentary – Indirect Tax Reporter ¶43-300

Generally

Commentary – Indirect Tax Reporter ¶43-300
Legislation/Regulatory – SI 1995/2518 reg. 5(1)

Grouping

Commentary – Indirect Tax Reporter ¶43-420

In name of firm, liability for VAT

Commentary – Indirect Tax Reporter ¶43-300

Joining partnership, capital paid

Commentary – Indirect Tax Reporter ¶43-310

Limited liability partnerships

Commentary – Indirect Tax Reporter ¶43-320 ; Indirect Tax Reporter ¶53-015

Limited partnerships

Commentary – Indirect Tax Reporter ¶43-325

No grouping by partners

Commentary – Indirect Tax Reporter ¶43-300

Notification to commissioners

Legislation/Regulatory – SI 1994/1774 reg. 4-6

Partner's VAT liability

Commentary – Indirect Tax Reporter ¶43-300

Partnership as separate person

Commentary – Indirect Tax Reporter ¶43-300

Property business: joint venture by partner

Commentary – Indirect Tax Reporter ¶33-150

Repayment of overpaid VAT

Commentary – Indirect Tax Reporter ¶43-300

Representation

Legislation/Regulatory – SI 1994/1774 reg. 10(3)

Scotland

Legislation/Regulatory – SI 1995/2518 reg. 7(2)

Service of notices

Commentary – Indirect Tax Reporter ¶43-300

Solicitors

– see Solicitors

Transfers of interests

Commentary – Indirect Tax Reporter ¶43-310

Registration forms CIS304

Commentary – Royse on Construction Industry Scheme 2.1.2

Registration, entitlement

Case Law – Three H. Aircraft Hire v. Commissioners of Customs and Excise. (1982) 1 BVC 480

Relevant corporate partner, meaning

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 3, para. 14

Relevant period, meaning

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 4, para. 25

Reliefs and exemptions

Commentary – Stamp Taxes Reporter ¶110-600

Repayment supplement

Legislation/Regulatory – ICTA88 s. 824(9) ; TCGA92 s. 283(4)

Replacement of business assets

Commentary – Tax Reporter ¶571-950
Legislation/Regulatory – ESC D23 ; SP D11
Case Law – Tod (H.M. Inspector of Taxes) v. Mudd. [1987] BTC 57

Representative partners

Commentary – Stamp Taxes Reporter ¶110-105

Residence

Chargeable gains

Commentary – Tax Reporter ¶591-500

Residence change re partners

Commentary – Golding and Connolly on Advising British Expats 4.9.1

Residency issues

Commentary – Ford on Tax Losses 3.3.7

Responsible partners

Commentary – Stamp Taxes Reporter ¶110-105

Restriction of relief for investment loan interest

Commentary – Tax Reporter ¶300-360

Restriction on disposals

Commentary – Tax Reporter ¶532-700

Restrictions

Commentary – Ford on Tax Losses 3.3

Retired partner retaining interest in, business property relief

Case Law – Beckman v IR Commrs (2000) Sp C 226

Retirement annuities

Commentary – Quick Overview ¶62135

Retiring partner, entitlement to share of VAT repayment

Case Law – Hawthorn v. Smallcorn. [1998] BVC 101

Returns

Amendment of

Legislation/Regulatory – TMA70 s. 12ABA

Correction by HMRC

Legislation/Regulatory – TMA70 s. 12ABB

Enquiries

– see Enquiries

Failure to make

Legislation/Regulatory – TMA70 s. 93A

Filing dates

Legislation/Regulatory – FA2007 s. 92 ; TMA70 s. 12AA(4)-(4E), (5)-(5E)

Generally

Commentary – Quick Overview ¶1340 ; Quick Overview ¶1690
Legislation/Regulatory – FA2007 s. 92 ; FA2018 Sch. 6, Pt. 3-5 ; TMA70 s. 9, 12AA
HMRC Guidance – CSLM8520 ; CTM90140 ; DMBM665830 ; DMBM665910 ; EM3850 ; EM4610 ; EM4825 ; SACM20035 ; SAIM9160 ; SAM114080

Power to enquire into

Legislation/Regulatory – TMA70 s. 12AC

Statement inclusion

Legislation/Regulatory – TMA70 s. 12AB(1)

Withdrawal of notice by HMRC

Legislation/Regulatory – FA2013 Sch. 51, para. 4 ; TMA70 s. 12AAA

Road fuel for private use, value of supply

Legislation/Regulatory – FA2013 s. 192, Sch. 38 ; VATA94 Sch. 6, para. A1-C1, 2A

Salaried partners

Commentary – Quick Overview ¶62115

Sale and leaseback of films

Partners claiming losses under film acquisition relief provisions in Income Tax (Trading and Other Income) Act 2005, s. 130–140

Case Law – Samarkand Film Partnership No 3 & Ors v Revenue and Customs Commissioners; R (on the application of Samarkand Film Partnership No 3) v Revenue and Customs Commissioners; R (on the application of Proteus Film Partnership No 1) v Revenue and Customs Commissioners [2015] BTC 517

Scotland

Accrued income scheme

Commentary – Tax Reporter ¶331-900

Chargeable transfer

Commentary – Tax Reporter ¶601-550

Scotland, deposit-takers deduction of tax at source

Legislation/Regulatory – ITA2007 s. 859

Self-assessment

– see Self-assessment

Self-assessment returns

Amendment of

Commentary – Tax Reporter ¶185-805

Error or mistake in statement

Commentary – Tax Reporter ¶191-260

Generally

Commentary – Tax Reporter ¶180-525

Incorrect

Commentary – Tax Reporter ¶197-700
HMRC Guidance – CH119100 ; CH405070 ; CH81140 ; CH81145 ; CH81150 ; CH81160 ; CH81190 ; CH82395 ; CH82431 ; CH82465
Case Law – AB (a firm) v. R & C Commrs

Penalties

Commentary – Tax Reporter ¶197-700
HMRC Guidance – CH119100 ; CH405070 ; CH81140 ; CH81145 ; CH81150 ; CH81160 ; CH81190 ; CH82395 ; CH82431 ; CH82465
Case Law – AB (a firm) v. R & C Commrs

Statement to be included

Commentary – Tax Reporter ¶180-550

Separate property business

Commentary – Chanda on Property Investment 6.4.2

Separate registrations

Generally

Case Law – Commissioners of Customs & Excise v. Glassborow and Another. (1974) 1 BVC 4

Limited partnerships

Case Law – (1980) 1 BVC 1,133

Settlement provisions

– see Settlements

Settlements

– see Settlements

Share incentive plans

– see Share incentive plans (SIPs)

Shares acquired in stages

Commentary – Tax Reporter ¶286-690

Sleeping business partners

Commentary – Tax Reporter ¶1002-425 ; Tax Reporter ¶1018-050
HMRC Guidance – BIM52765 ; BIM52785 ; LLM5430 ; NIM24523

Sole trader becoming

Commentary – Royse on Construction Industry Scheme 5.4 ; Royse on Construction Industry Scheme 7.6

Sole trader taking on partner

Commentary – Quick Overview ¶62110

Special rules

Transactions involving transfers from partnership

Commentary – Land Transaction Tax (Wales) ¶306-300–Land Transaction Tax (Wales) ¶306-310

Transactions involving transfers to partnership

Commentary – Land Transaction Tax (Wales) ¶306-250–Land Transaction Tax (Wales) ¶306-285

Transfers from corporate partnership

Commentary – Land Transaction Tax (Wales) ¶306-400

Transfers from partnership to partnership

Commentary – Land Transaction Tax (Wales) ¶306-350

Specific bequests

Commentary – Rossdale: Probate and Administration of Estates ¶24-070

Specific deductions

Costs connected with capital structure of business

Commentary – Tax Reporter ¶289-225

Deductions in relation to LLP salaried members

Commentary – Tax Reporter ¶289-240

Expenses incurred by partners individually

Commentary – Tax Reporter ¶289-075
HMRC Guidance – BIM82075

Interest paid by partnership

Commentary – Tax Reporter ¶289-120

Partner recruitment costs

Commentary – Tax Reporter ¶289-165

Partner training costs

Commentary – Tax Reporter ¶289-180

Partnership annuities

Commentary – Tax Reporter ¶289-210

Payments to outgoing partners

Commentary – Tax Reporter ¶289-105

Payments to partners

Commentary – Tax Reporter ¶289-090

Rent

Commentary – Tax Reporter ¶289-135
HMRC Guidance – BIM38110
Case Law – HEASTIE (H.M. INSPECTOR OF TAXES) v. VEITCH & CO. THE COMMISSIONERS OF INLAND REVENUE v. VEITCH & CO.

Service companies

Commentary – Tax Reporter ¶289-150

Termination payments

Commentary – Tax Reporter ¶289-195

Stamp duty

Group relief

Commentary – Stamp Taxes Reporter ¶80-140

Transfers of partnership interest

Commentary – Stamp Taxes Reporter ¶110-615

Stamp duty land tax

Acquisition of interest in partnership

Legislation/Regulatory – FA2003 Sch. 15, para. 29

Anti-avoidance transactions

Legislation/Regulatory – FA2003 s. 75C(8A) ; FA2010 s. 55 ; STB06/10

Arrangements, meaning

Legislation/Regulatory – FA2003 Sch. 15, para. 40

Charities relief

Legislation/Regulatory – FA2003 Sch. 15, para. 28

Connected persons

Legislation/Regulatory – FA2003 Sch. 15, para. 39 ; FA2007 s. 72(11)

Continuity

Legislation/Regulatory – FA2003 Sch. 15, para. 3

Generally

Legislation/Regulatory – FA2003 Sch. 15 ; FA2007 s. 72
HMRC Guidance – SDLTM09705 ; SDLTM09720 ; SDLTM09725 ; SDLTM09785 ; SDLTM09790 ; SDLTM29920 ; SDLTM29935 ; SDLTM33770 ; SDLTM33780 ; SDLTM34010 ; SDLTM34110 ; SDLTM34220 ; SDLTM34600 ; SDLTM34610 ; SDLTM34800

Group relief

Commentary – Stamp Taxes Reporter ¶80-140
Legislation/Regulatory – FA2003 Sch. 15, para. 27 ; Misc. 321

HMRC response: arrangement, meaning

Commentary – Stamp Taxes Reporter ¶110-425

Legal personality

Legislation/Regulatory – FA2003 Sch. 15, para. 2

Liability

Commentary – Stamp Taxes Reporter ¶110-110

Manual

Commentary – Stamp Taxes Reporter ¶110-210

Market value of leases

Legislation/Regulatory – FA2003 Sch. 15, para. 38

Partnership property and partnership share, meaning

Legislation/Regulatory – FA2003 Sch. 15, para. 34

Representative partners

Legislation/Regulatory – FA2003 Sch. 15, para. 8

Responsibility of partners

Legislation/Regulatory – FA2003 Sch. 15, para. 6, 7

Returns

– see Returns

Transactions which are not notifiable

Legislation/Regulatory – FA2003 Sch. 15, para. 30

Transfer of an interest in a partnership

Legislation/Regulatory – FA2003 Sch. 15, para. 14-18, 36 ; FA2007 s. 72 ; FA2008 Sch. 31, para. 1-3 ; SI 2006/3237 Sch., para. 2

Transfer of an interest in a property-investment partnership

Legislation/Regulatory – FA2003 Sch. 15, para. 14 ; FA2007 s. 72(6) ; FA2008 Sch. 31, para. 1 ; SI 2006/3237 Sch., para. 2

Transfer of chargeable interest from a partnership

Legislation/Regulatory – FA2003 Sch. 15, para. 18-24, 37 ; FA2007 s. 72(7), (8) ; FA2008 Sch. 31, para. 7 ; SI 2006/3237 Sch., para. 2

Transfer of chargeable interest to a partnership

Legislation/Regulatory – FA2003 Sch. 15, para. 9-13, 27A, 35 ; FA2007 s. 72(9) ; FA2008 Sch. 31, para. 5, 6 ; SI 2006/3237 Sch., para. 2
HMRC Guidance – CG64145 ; CG64165

Transfer of chargeable interest, withdrawal of money etc. from partnership after

Legislation/Regulatory – FA2003 Sch. 15, para. 17A ; FA2008 Sch. 31, para. 8

Unit trust scheme

Legislation/Regulatory – FA2003 Sch. 15, para. 4

Stamp duty land tax, acquisition structured to mitigate charge

Case Law – Revenue and Customs Commissioners v DV3 RS Limited Partnership. [2012] BTC 1,753 ; [2011] TC 001012

Stamp duty, transfers of partnership interests

Legislation/Regulatory – FA2003 Sch. 15, para. 31-33

Statement of practice D12

Disposal of partnership assets to a third party

Commentary – Tax Reporter ¶286-555

HMRC

Commentary – Tax Reporter ¶286-495

Revaluation of partnership assets

Commentary – Tax Reporter ¶286-615

Stock relief, recovery

Case Law – C Connelly & Co v. Wilbey (HM Inspector of Taxes). [1992] BTC 538

Summing up

Commentary – Stamp Taxes Reporter ¶110-335

Taper relief

Legislation/Regulatory – SP D12

Tax-generated losses

Commentary – Ford on Tax Losses 3.3.4

Taxation of capital gains

Commentary – Chanda on Property Investment 2.5.6

Teaching services constituting supplies by

Case Law – Alberni String Quartet. (1990) 5 BVC 689

Tonnage tax

– see Tonnage tax

Trade loss relief

Anti-avoidance provisions

Legislation/Regulatory – ITA2007 s. 790-795

Capital gains relief, meaning

Legislation/Regulatory – ITA2007 s. 103

Exclusion of amounts in calculating contribution, regulations

Legislation/Regulatory – ITA2007 s. 114

Film exploitation

Legislation/Regulatory – ITA2007 s. 82, 115, 116

Firm, meaning

Legislation/Regulatory – ITA2007 s. 103

Generally

Legislation/Regulatory – HMRCBrf 18/07 ; ITA2007 s. 62

Leasing plant or machinery, sideways relief restriction

Legislation/Regulatory – ITA2007 s. 77
HMRC Guidance – BIM85750

Licence-related

Legislation/Regulatory – ITA2007 s. 804-809

Limited partners, restriction on reliefs

Legislation/Regulatory – ITA2007 s. 103C-106, FA2007 Sch. 4, para. 1

Non-active partners, restriction on reliefs

Legislation/Regulatory – ITA2007 s. 110-113

Overview

Legislation/Regulatory – ITA2007 s. 102

Recovery of excess relief

Legislation/Regulatory – ITA2007 s. 790-795

Sideways relief, meaning

Legislation/Regulatory – ITA2007 s. 103

Trading income, adjustments on change of basis

Legislation/Regulatory – CTA2009 s. 1267-1269

Transactions between partnership and individual partners

Commentary – Quick Overview ¶62125

Transfer of a business to a company

– see Transfer of business to a company

Transfer of chargeable interest from partnership

Generally

Commentary – Stamp Taxes Reporter ¶110-500–Stamp Taxes Reporter ¶110-515

Interpretation

Commentary – Stamp Taxes Reporter ¶110-635

Transfer of chargeable interest to partnership

Charging formula

Commentary – Stamp Taxes Reporter ¶110-305

Generally

Commentary – Stamp Taxes Reporter ¶110-300–Stamp Taxes Reporter ¶110-335

Interpretation

Commentary – Stamp Taxes Reporter ¶110-625

Transfer of interest in partnership

Generally

Commentary – Stamp Taxes Reporter ¶110-400–Stamp Taxes Reporter ¶110-445

Interpretation

Commentary – Stamp Taxes Reporter ¶110-630

Transfer pricing

– see also Transfer pricing

Generally

Commentary – Quick Overview ¶62125

Transfers

Partnership interests/contribution of property to newly formed partnership

Commentary – Indirect Tax Reporter ¶34-850

Share in partnership: payments received for non-supplies

Commentary – Indirect Tax Reporter ¶10-602

Transfers between persons

Commentary – Tax Reporter ¶286-645
HMRC Guidance – CG27800

Transfers between persons not at arm's length

Legislation/Regulatory – SP D12

Transfers involving property-investment

Definitions

Commentary – Land Transaction Tax (Wales) ¶306-500

Transfers of relief within

Application

Legislation/Regulatory – CTA2010 s. 958

Arrangements, effects of

Legislation/Regulatory – CTA2010 s. 959

Interpretation

Legislation/Regulatory – CTA2010 s. 962

Non-trading profits and losses

Legislation/Regulatory – CTA2010 s. 961

Restrictions on use of reliefs

Legislation/Regulatory – CTA2010 s. 960
HMRC Guidance – CTM36590

Transfers under FA 2003, Sch. 15, para. 36(a)

Partnership share

Commentary – Stamp Taxes Reporter ¶110-440

Turnover test threshold

Commentary – Royse on Construction Industry Scheme 1.5.4

Type A and type B transfers

Definitions

Commentary – Land Transaction Tax (Wales) ¶306-510

Relevant partnership property

Commentary – Land Transaction Tax (Wales) ¶306-515Land Transaction Tax (Wales) ¶306-520

Types of

Commentary – Land Transaction Tax (Wales) ¶306-050 ; Chanda on Property Investment 2.5.1

Types of partner

Commentary – Ford on Tax Losses 3.2

UK partnership registering as Jersey limited partnership, tax treatment

Case Law – R v Inland Revenue Commissioners, ex parte Bishopp (for and on behalf of the partners in PricewaterhouseCoopers (a firm)); R v Inland Revenue Commissioners, ex parte Allan (for and on behalf of the partners in Ernst & Young (a firm)). [1999] BTC 158

Understated profits for the year

Case Law – Newell & Anor (t/a Tanya's Takeaway) [2014] TC 03120

Unit trust schemes, limited partnerships

Legislation/Regulatory – SI 1988/266

Unit trusts

Commentary – Land Transaction Tax (Wales) ¶306-180

Untaxed allowances received

Case Law – Wright v. Field (HM Inspector of Taxes) and related appeal. [1991] BTC 20

Valuation basis

Commentary – Tax Reporter ¶532-750

Valuation of partner's share

Commentary – Tax Reporter ¶286-525
HMRC Guidance – CG27250

Value added tax

Registration

Commentary – Quick Overview ¶71020

Taxable person

Commentary – Quick Overview ¶67810

Value of partner's share

Legislation/Regulatory – SP D12

VAT penalties

Civil fraud for partners

Commentary – Tax Reporter ¶291-835

Inaccurate information

Commentary – Tax Reporter ¶291-850

VAT registration

Commentary – Chanda on Property Investment 5.3

Venture capital investment partnerships, gains of insurance company

– see Insurance companies

Verification

Commentary – Royse on Construction Industry Scheme 5.3.2

View of profit, persons carrying on a business

Activity of partners, degree of

Commentary – Tax Reporter ¶286-060

Business in common

Commentary – Tax Reporter ¶286-060

Business, meaning

Commentary – Tax Reporter ¶286-060

No partnership

Commentary – Tax Reporter ¶286-060

With a view to profit

Commentary – Tax Reporter ¶286-060

Voting rights test

Legislation/Regulatory – TCGA92 Sch. 7ZA, Pt. 3, para. 21

Wholly and exclusively incurred expenditure

Food and drink/overnight accommodation/hiring of room

Case Law – Watkis (H.M. Inspector of Taxes) v. Ashford Sparkes & Harward (a firm). [1985] BTC 391

LLP's trade or of individual member's notional trade

Case Law – Revenue and Customs Commissioners v Vaines [2016] BTC 502 ; Vaines v R & C Commrs [2018] BTC 9

Relocation expenses

Case Law – MacKinlay (H.M. Inspector of Taxes) v. Arthur Young McClelland Moores & Co. [1986] BTC 398 ; MacKinlay (H.M. Inspector of Taxes) v. Arthur Young McClelland Moores & Co. [1989] BTC 587

Winding up

Capital gains tax

Commentary – Tax Reporter ¶286-825
HMRC Guidance – CG27350

Income tax

Commentary – Tax Reporter ¶286-810