Partnership Tax

by Sarah Laing

Revised and up to date for 2022/23. Partnerships are a popular trading vehicle but the tax involved is complicated. This course covers partnership taxation in detail and highlights the many complexities to consider.

price £75+vat
cpd hours 4 CPD hours
access 120 days' access

This course will enable you to

  • Understand the structure of partnerships and examine the formalities of partnership taxation
  • Learn how partnership profits are calculated and shared between the relevant partners
  • Deal with the taxation if a partnership changes
  • Recognise tax compliance obligations, including completing and submitting the partnership statement to HMRC

About the course

A partnership is a popular trading vehicle through which two or more people can own and run a business together. And for accountants, the tax involved continues to be an interesting subject area. In many ways, partnerships do not fit well into the UK tax system. HMRC appear to have an increasing perception that partnerships can be exploited for tax avoidance purposes.

This course gives you a good understanding of the taxation of partnerships, including how partnership profits are calculated. It also highlights the many complexities to consider, along with the compliance issues involved with this area.

This course has been revised and is up to date for 2022/23.

Look inside

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Contents

  • Partnerships
    • A complicated arrangement?
    • What is a partnership?
    • Is it a partnership?
    • Partnerships
    • Partnership agreement
    • Why partnership matters
  • Income and gains
    • Partnership profits and their allocation
    • Partnership profits
    • Basis periods
    • How are partnerships taxed?
    • VAT and taxation of profits
  • Dealing with changes
    • Changes in partnerships
    • A new partner
    • Jumping ship
  • Administrative matters
    • Administration and tax provisions
    • Partnership tax returns
    • Deadlines
    • Partnership accounts and providing for tax payments
    • HMRC enquiry procedures for partnerships
    • Penalties for non-compliance

Author

Sarah Laing

Sarah Laing is a Chartered Tax Adviser. Writing professionally since 1998, she joined CCH Editions as a Senior Technical Editor. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars.

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Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
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Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
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Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Why not upgrade?

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Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
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Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

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Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
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Recommended

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

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