PART IV U.K. PROVISIONS RELATING TO THE SCHEDULE D CHARGE

CHAPTER VII U.K. PARTNERSHIPS AND SUCCESSIONS

Modifications etc. (not altering text)

C1 See also—1970(M) s.9—partnership returns.1990(C), ss.65, 78—capital allowances for machinery, etc., used for trade carried on in partnership.

Valid from 06/04/2001

[F1 Limited liability partnerships U.K.

Textual Amendments

F1 Ss. 118ZA-118ZD and preceding cross-heading inserted (6.4.2001) by Limited Liability Partnerships Act 2000 (c. 12), ss. 10(1), 19(1); S.I. 2000/3316, art. 2

118ZA Treatment of limited liability partnerships. U.K.

For the purposes of the Tax Acts, a trade, profession or business carried on by a limited liability partnership with a view to profit shall be treated as carried on in partnership by its members (and not by the limited liability partnership as such); and, accordingly, the property of the limited liability partnership shall be treated for those purposes as partnership property.]