Partnership Tax Guide
What is a Partnership?
A Partnership is where two or more persons commence business by carrying out an activity with a view to making a profit (on a commercial basis). There are several types of partnership:
- General Partnership
- Limited Partnership (LP)
- Limited Liability Partnership (LLP)
- Mixed Partnerships – one where there is a corporate partner
Below we set out what each partnership entails and some of the compliance and taxation requirements. We have also written an article expanding on the types