Weekly roundup of HMRC import, export and customs guidance—2 December 2024
Details of updates to HMRC import, export and customs guidance for the period from 26 November to 2 December 2024.
This topic studies the creation and life of contractual joint ventures. Contractual joint ventures are joint ventures created by contract. All joint ventures are contractual joint ventures, unless they are incorporated joint ventures (which are normally a company structure overlaid with a shareholders' agreement).
This topic does not cover corporate joint ventures, but information relating to corporate joint ventures is available, see: Planning (corporate joint ventures)—overview. If you are interested in joint ventures relating to property transactions, see: Joint ventures in property transactions—overview.
A contractual joint venture is not a special relationship recognised by law. This distinguishes a contractual joint venture from a partnership or a trust. A contractual joint venture is not a legal entity separate from its participants; it is not a body corporate. This distinguishes a contractual joint venture from a company, limited liability partnership or other body. In legal terms, a contractual joint venture is simply a contractual relationship and like other contractual relationships, other sources of law will impact on the conduct of the parties.
In a contractual joint venture the relationship is between two or more parties who share
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