Partnership profit

Partnership profit

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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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By ACDWebb
23rd Aug 2011 15:06

You apportion them

in accordance with the partnership deed. There is a partnership deed isn't there?

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By Dick Emery
23rd Aug 2011 15:12

no there isnt - H&W team -

no there isnt - H&W team - informal

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By vince8
23rd Aug 2011 16:17

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!

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