Can an LP be exempt from filing annual partnership

Posted by apacarada PM | on Mon, 15/03/2010 - 10:56 376 3 comments | report

Where the UK LP is not generating UK source income and where all the Partners are non-UK residents, is it possible to apply to HMRC immediately following registration for exemption from filing annual partnership tax returns? Can I make such an application to ensure no future partnership returns need to be filed (unless the LP starts to generate UK source income or appoints a UK resident partner)?

Comments

It is LP and not LLP

apacarada | Mon, 15/03/2010 - 11:29 | Permalink

Very Sorry my mistake. It is a LP. Can you answer in this case?

Thank You

apacarada | Mon, 15/03/2010 - 13:32 | Permalink

Thanks very much for your prompt reply.

For the pedantic ...

mikewhit | Mon, 15/03/2010 - 18:33 | Permalink

It's only an acronym if it's pronounced as a word, so laser, Nato, radar, PIN - yes; BBC, LLP, SME - no.