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AIA

PTP's Tax Tip No 4 ' Associated companies and unseen implications of the Civil Partnerships Act

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27th Feb 2006
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Q ' My life partner and I have run and owned our own companies for the last ten years without any commercial arrangements existing between them. We have our own accountants and don't discuss work particularly often. In January 2006 we married under the Civil Partnership Act. It was a private affair and only close friends were invited.
My accountant doesn't even know I'm gay. I remember he asked me if I was married ten years ago! It can't make any difference to how the companies are taxed can it?

A - I'm afraid it does! Under the Civil Partnership Act you and your partner will now be viewed as connected persons for tax purposes. The two companies will be associated for the whole accounting period in which the marriage occurred and this will continue to be the case from now on. It's important you let whoever completes your company tax returns know as soon as possible.

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