Ray: Partnership Taxation

Ray: Partnership Taxation provides an in-depth analysis of current legislation and best practice in the challenging area of partnership taxation and is essential reading for accountants, solicitors and others advising professional partnerships. The comprehensive text covers all the key areas of partnership taxation and is referenced throughout to the relevant legislation, case law and Revenue Statements of Practice. All aspects of taxation touching partnerships are covered including: * types of partnership and the partnership agreement * mixed partnerships and corporate partners owned by individuals * the complexities of partnership capital gains * mergers and demergers * incorporation and loss relief * property investment partnerships * VAT and the tax treatment applicable to overseas partnerships * personal pension scheme rules * operation of stamp duty land tax in partnerships * extensive cross-referencing of the text, with numerous worked examples

Partnerships and partners; Limited Liability Partnerships (LLPs); The calculation of tax-adjusted profit or loss; The basis of assessment of partnership profits; Partnership changes; Changes of accounting date and the choice of accounting date; Capital allowances; The division of profits between partners; Other partnership income, partnership charges and national insurance contributions; Losses; The UK partnership return, partners' self-assessment and tax administration; Reserving for tax liabilities; The basis of accounting within partnerships, the valuation of unbilled work, revenue recognition, and post-cessation receipts; The taxation of capital gains; Partnership mergers and demergers; Partnerships trading overseas and overseas earnings; Relief for overseas taxes; Companies in partnership; Mixed partnerships and corporate partners owned by individual partners; Other special types of partner; Property investment partnerships; Venture capital or private equity partnerships; Financing a Partnership; Provision for retirement; 'Subsidiary' companies, service companies and service partnerships; Incorporation and disincorporation; Inheritance tax; Value added tax and stamp duty; The partnership agreement; The LLPs members agreement; Appendices