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Contents

Official guidance

Partnership Manual

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PM100000 · About this manual
PM100100 · Destination table of original partnership guidance
PM120000 · Introduction to partnerships
PM130000 · Partnerships general
PM140000 · Self assessment for partnerships
PM160000 · Calculating the taxable profit/allowable losses
PM190000 · Partnership loss claims and restrictions: contents
PM210000 · Mixed member partnerships
PM250000 · Salaried member rules
PM270000 · Indirect, capital and transfer taxes and other tax obligations
PM280000 · Overseas partnerships & treatment for UK tax purposes
PM00100 · About this manual
PM10000 · Introduction to Partnerships and Partnership Taxation
PM10100 · Introduction to Partnerships and Partnership Taxation: what is a partnership?
PM10200 · Introduction to Partnerships and Partnership Taxation: does a partnership exist?
PM10300 · Introduction to Partnerships and Partnership Taxation: when does a partnership commence?
PM10400 · Introduction to Partnerships and Partnership Taxation: relations that do not constitute a partnership
PM10500 · Introduction to Partnerships and Partnership Taxation: who can be a partner?
PM10600 · Introduction to Partnerships and Partnership Taxation: overview of types of partnership
PM10700 · Introduction to Partnerships and Partnership Taxation: taxing the profits of a business carried on in partnership
PM10800 · Introduction to Partnerships and Partnership Taxation: profit sharing arrangements
PM10900 · Introduction to Partnerships and Partnership Taxation: overview of how partnerships are taxed
PM11000 · Trading profits
PM11010 · Trading profits: notional trade and basis periods
PM11020 · Trading profits: notional trade and basis periods - sole trader and partnership changes
PM11030 · Trading profits: partnership mergers and demergers
PM11040 · Trading profits: accounting date changes
PM11050 · Trading profits: overlap
PM11100 · Introduction to Partnerships and Partnership Taxation: non trading income (‘other income’)
PM13180 · Distinct legal personality and taxes management provisions
PM136200 · Capital allowances
PM20000 · Self Assessment for partnerships
PM20010 · Self Assessment for partnerships: legal framework
PM20100 · Self Assessment for partnerships: registration of partnerships with HMRC
PM20200 · Self Assessment for Partnerships: the nominated/representative partner
PM20300 · Self Assessment for partnerships: linking partners to the partnership
PM20400 · Self Assessment for partnerships: the partnership return
PM20410 · Self Assessment for partnerships: the partnership return: requirements
PM20420 · Self Assessment for partnerships: the Partnership return: Standard Accounts Information (SAI) or full accounts and computations
PM20430 · Self Assessment for partnerships: the partnership return: operational guidance
PM20500 · Self Assessment for partnerships: partners’ returns
PM20510 · Self Assessment for Partnerships: partners’ returns: returning the partnership profit share
PM20520 · Self Assessment for Partnerships: partners’ returns: composite returns for individual non-UK resident partners
PM20600 · Self Assessment for partnerships: filing date for partnership return
PM20700 · Self Assessment for Partnerships: Late filing penalties
PM20800 · Self Assessment for partnerships: compliance checks
PM20810 · Self Assessment for partnerships: compliance checks: introduction
PM20820 · Self Assessment for partnerships: compliance checks: review and liaison
PM20830 · Self Assessment for partnerships: compliance checks: opening a compliance check
PM20840 · Self Assessment for partnerships: compliance checks: information powers
PM20850 · Self Assessment for partnerships: compliance checks: settling partnership enquiries
PM232500 · AIFM: Overview
PM251010 · Overview
PM271100 · Partnerships and VAT
PM30000 · Calculating the taxable profits
PM30010 · Calculating the taxable profits: introduction
PM30100 · Calculating the taxable profits: steps for computing partnership trading profits
PM30200 · Calculating the taxable profits: accounting profits
PM30300 · Calculating the taxable profits: general tax rules
PM30400 · Calculating the taxable profits: overriding principle on payments to partners
PM30500 · Calculating the taxable profits: interest paid by the partnership
PM30600 · Calculating the taxable profits: rent
PM30700 · Calculating the taxable profits: service companies
PM30800 · Calculating the taxable profits: partner recruitment costs
PM30900 · Calculating the taxable profits: partner training costs
PM31000 · Calculating the taxable profits: termination payments
PM31100 · Calculating the taxable profits: Partnership annuities
PM31110 · Calculating the taxable profits: Partnership annuities: the partnership
PM31120 · Calculating the taxable profits: Partnership annuities: current partners
PM31130 · Calculating the taxable profits: Partnership annuities: retired partners
PM31200 · Calculating the taxable profits: costs connected with the capital structure of a business
PM31300 · Calculating the taxable profits: partner expenses
PM31350 · Calculating the taxable profits: Directors’ fees received by professional partnerships
PM31400 · Calculating the taxable profits: claims and elections
PM31500 · Calculating the taxable profits: allocating the taxable profits or allowable losses to partners
PM31600 · Calculating the taxable profits: Capital Allowances
PM31610 · Calculating the taxable profits: Capital Allowances: claims for Capital Allowances on partnership assets
PM31620 · Calculating the taxable profits: Capital Allowances: partnership changes
PM31630 · Calculating the taxable profits: Capital Allowances: connected persons
PM31640 · Calculating the taxable profits: Capital Allowances: the Annual Investment Allowance (AIA)
PM31650 · Calculating the taxable profits: Capital Allowances: leasing
PM40000 · Mixed member partnerships and international aspects
PM40210 · Mixed member partnerships and international aspects: companies in partnership: what is a company partnership?
PM40220 · Mixed member partnerships and international aspects: companies in partnership: computation and allocation of profits
PM40230 · Mixed member partnerships and international aspects: companies in partnership: common issues
PM40240 · Mixed member partnerships and international aspects: companies in partnership: loans to participators
PM40420 · Mixed member partnerships and international aspects: residence and the tax consequences: UK resident members
PM40440 · Mixed member partnerships and international aspects: residence and the tax consequences: Non-resident members: individuals
PM40460 · Mixed member partnerships and international aspects: residence and the tax consequences: Non-resident members: companies
PM40465 · Mixed member partnerships and international aspects: residence and the tax consequences: Non-resident company members trading in the UK
PM40470 · Mixed member partnerships and international aspects: Residence and the tax consequences: Non-resident company members not trading in the UK
PM40600 · Mixed member partnerships and international aspects: management and control
PM40700 · Mixed member partnerships and international aspects: where are the profits earned?
PM40800 · Mixed member partnerships and international aspects: Composite SA returns for non-resident individual members
PM40900 · Mixed member partnerships and international aspects: Investment partnerships
PM41000 · Mixed member partnerships and international aspects: UK registered partnerships with no UK source
PM41100 · Mixed member partnerships and international aspects: tax status of overseas partnerships
PM41200 · Mixed member partnerships and international aspects: UK branches of overseas partnerships
PM41300 · Mixed member partnerships and international aspects: summary of filing requirements for partnerships with foreign aspects
PM41500 · Mixed member partnerships and international aspects: Hybrid entities and tax arbitrage
PM50000 · Limited partnerships and limited liability partnerships
PM50010 · Limited partnerships and limited liability partnerships: introduction
PM50100 · Limited partnerships and limited liability partnerships: limited partnerships - overview
PM50200 · Limited partnerships and limited liability partnerships: limited partnerships - restrictions on loss relief for limited partners
PM50300 · Limited partnerships and limited liability partnerships: venture capital/private equity and the BVCA agreement
PM50400 · Limited partnerships and limited liability partnerships: LLPs: overview
PM50500 · Limited Liability Partnerships: statutory provisions for tax transparency
PM50510 · Limited Liability Partnerships: statutory provisions for tax transparency: tax transparency ‘switched on’
PM50520 · Limited Liability Partnerships: statutory provisions for tax transparency: tax transparency ‘switched off’
PM50550 · Limited partnerships and limited liability partnerships: liquidations
PM50600 · Limited Partnerships and Limited Liability Partnerships - conversions
PM50610 · Limited Partnerships and Limited Liability Partnerships: conversions - business transferred from general partnership
PM50620 · Limited Partnerships and Limited Liability Partnerships - conversions: business transferred from company
PM50700 · Limited partnerships and limited liability partnerships: restrictions on loss relief for LLP members
PM50800 · Limited partnerships and limited liability partnerships: distinct legal personality and Taxes Management provisions
PM50900 · Limited partnerships and limited liability partnerships: nominee members
PM528200 · What is the contribution?
PM60000 · Indirect, capital and transfer taxes and other tax obligations
PM60100 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships
PM60105 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: VAT and partnerships - introduction
PM60110 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Does a partnership exist?
PM60120 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Registration and liability to VAT
PM60130 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: partner changes
PM60140 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Group VAT registration and partnerships
PM60150 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: VAT position of partnership contributions
PM60160 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: VAT avoidance using partnerships
PM60200 · Indirect, capital and transfer taxes and other tax obligations: Capital gains
PM60205 · Indirect, capital and transfer taxes and other tax obligations: Capital gains - introduction
PM60210 · Indirect, capital and transfer taxes and other tax obligations: Capital gains: Goodwill
PM60220 · Indirect, capital and transfer taxes and other tax obligations: Capital gains: CG Reliefs
PM60300 · Indirect, capital and transfer taxes and other tax obligations: Stamp Duty Land Tax (SDLT)
PM60305 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Stamp Duty Land Tax (SDLT) - introduction
PM60310 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Stamp Duty Land Tax (SDLT): SDLT & Partnerships: General
PM60320 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Stamp Duty Land Tax (SDLT): special partnership provisions
PM60330 · Indirect, capital and transfer taxes and other tax obligations: VAT and partnerships: Stamp Duty Land Tax (SDLT): SDLT avoidance
PM60400 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT) contents
PM60405 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): introduction
PM60410 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): General transparency principle
PM60420 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): Transfers of partnership assets
PM60430 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): Valuing the partnership interest
PM60440 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): Situs of partnership interest
PM60450 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): Business Property Relief
PM60460 · Indirect, capital and transfer taxes and other tax obligations: Inheritance Tax (IHT): Family Limited Partnerships
PM60500 · Indirect, capital and transfer taxes and other tax obligations: PAYE and National Insurance
PM60505 · Indirect, capital and transfer taxes and other tax obligations: PAYE and National Insurance: Introduction
PM60520 · Indirect, capital and transfer taxes and other tax obligations: PAYE and National Insurance: PAYE
PM60540 · Indirect, capital and transfer taxes and other tax obligations: PAYE and National Insurance: National Insurance Contributions (NICs)
PM60545 · Indirect, capital and transfer taxes and other tax obligations: PAYE and National Insurance: Class 4 NIC relief for partner’s losses
PM60550 · Indirect, capital and transfer taxes and other tax obligations: PAYE and National Insurance: Employer’s Class 1 NICs
PM60600 · Indirect, capital and transfer taxes and other tax obligations: Construction Industry Scheme (CIS)
PM60700 · Indirect, capital and transfer taxes and other tax obligations: deduction of Income Tax at source
PM61090 · Share: benchmark

Partnership Manual
Calculating the taxable profits: contents

PM30000 | Calculating the taxable profits: contents

From HM Revenue & Customs · Partnership Manual

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