A partnership is made up of a mixture of individuals and limited companies. For associated company purposes, it seems to me that the corporate partners will be treated as carrying on a business, but what if in a particular year, one of the companies does not actually receive any share of the profits? Would it still count as an associated company for those which did have profit shares?
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Why?
Why would the corporate partners in a partnership be treated as associated with each other in the first place. Are they under common control?
While the partnership continues, the corporate partner's business (being a member of the partnership) continues.
But companies aren't associated unless one of them controls the other or both are under common control.