Partners owning Partnership trading premises

Partners owning Partnership trading premises

Didn't find your answer?

All partners of a trading partnership own the property that it trades from equally.

Can they charge a market rent? Ok they would be paying themselves but I suppose it would save class 4 NIC's possibly as it would reduce trading profits accordingly?

Also, is there any difference if the partnership is an LLP?

Lastly, if a partner retires from the trading partnership but keeps his share of the premises surely he can charge a rent for his property share? (In which case presumably nothing stopping other partners charging a rent?

Many thanks in anticipation of readers thoughts / experiences.

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