Commentary

D1.8105 Partnerships involving companies

Corporate tax
Corporate tax | Commentary

D1.8105 Partnerships involving companies

Corporate tax | Commentary

D1.8105 Partnerships involving companies

Where one or more of the partners in a trading partnership is a company and one or more of the partners is not, two separate computations of the profits and losses have to be made, one using corporation tax rules and the other using income tax rules (see B7.401). No debits and credits in respect of derivative contracts are to be brought into the partnership corporation tax computation1.

Instead, each company partner is treated as having been a party to the partnership's contract. The debits and credits in respect of the contract are apportioned to each company

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