Publishing details of deliberate tax defaulters: Partnerships: Limited liability partnerships
In general law a limited liability partnership (LLP) is regarded as a ‘body corporate’ and is a legal entity separate from its members.
However, for some tax purposes a LLP is treated differently.
Income tax, capital gains tax and corporation tax
For income tax, capital gains tax and corporation tax purposes, specific legislation treats a LLP as
- a partnership if it is carrying on a business with a view to profit,
- a company if it is not carrying on a business with a view to profit, or
- a company if it is in liquidation or is being wound up by an order of the Court.
Where the LLP is treated as a partnership, CH191240 applies and we apply the five publication questions to the individual partners. We will publish the details of each partner for whom the answer to all five questions is ‘yes’. Where the LLP is treated as a company, we consider the five questions for the LLP and if the answer to all of the questions is ‘yes’ we will publish details of the LLP, not the individual partners.
BIM72100 provides detailed general information about limited liability partnerships and how they are taxed.