Tag Archives: LLP

Partnerships and Capital Gains Tax

A helpsheet on partnerships and Capital Gains Tax has been published by HMRC, reference HS288. Broadly, partnerships, including a LLP, are transparent for capital gains, so each partners is responsible any gains on the disposal of their share of a … Continue reading

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Upper Tax Tribunal Ruling on Document Disclosure in an Appeal

The Upper Tax Tribunal (UT) has ruled on the scope of document disclosure in a tax appeal in HMRC vs. Ingenious Games et al [2014] UKUT 062, 07/Feb/14. The case concerned three LLPs in the film and video game sector, … Continue reading

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HMRC Suspicious of Partnerships and LLPs

A report by the Office of Tax Simplification, OTC, highlights HMRC’s suspicions of partnerships and LLPs especially. This is unfair as a partnership is a simple and long-established business model and many professions are pushed into operating that way by … Continue reading

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