Afternoon accountants
Any help very much appreciated.
Is it ok with HMRC to apportion partnerships profits willy nilly!
e.g 2009 ptr A 75% pt B 25%
2010 ptr A 60% ptr B 40%
etc... etc.....
This would help individual partners with tax planning.
Thanks and regards
Replies (3)
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You apportion them
in accordance with the partnership deed. There is a partnership deed isn't there?
Have a look at BIM 72065
You have to be careful, particulary with the type of trade. If the husband is a brain surgeon you might be struggling to allocate much to his wife, whose not!