The following Tax guidance note Produced in partnership with Arun Birla and Hannah Gray of Paul Hastings (Europe) LLP and Sara Stewart of Vinson & Elkins RLLP provides comprehensive and up to date legal information covering:
This Practice Note considers how the principal UK tax aspects of the establishment, operation and termination of a joint venture may impact on the choice between operating a joint venture through a contractual arrangement, a joint venture company (JVCo) or a partnership. It is assumed for the purposes of this Practice Note that the joint venture parties are UK tax resident corporate entities and that any separate joint venture vehicle established is also UK tax resident. For information on joint ventures with a non-UK tax element, see Practice Note: Tax implications of international joint ventures.
A joint venture is a commercial arrangement entered into by two or more independent parties. There are no specific laws, including tax laws, applicable to joint ventures and no technical legal meaning of the term.
A joint venture will usually take one of the following forms:
partnership (general, limited or limited liability partnership), or
corporate joint venture (JVCo)
The full details of establishing, operating and terminating each type of joint venture are explained in the following Practice Notes:
Tax implications of contractual joint ventures
Tax implications of establishing a joint venture partnership
Tax implications of operating and terminating a joint venture partnership
Tax implications of establishing a joint venture company, and
Tax implications of operating and terminating
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234