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HMRC internal manual

Partnership Manual

• From: HM Revenue & Customs
• Published: 10 April 2016
• Updated: 8 February 2018, see all updates

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1. Contents
2. PM60000
3. PM60500
4. PM60540

Indirect, capital and transfer taxes and other tax obligations: VAT and p Inheritance Tax (IHT): PAYE and National Insurance: National Insurance Contributions (NICs)

Individual (non-corporate) partners are liable to Class 2 and Class 4 NICs on their own share of the trade or profession carried on by the partnership.

Class 2 and 4 contributions are also payable on the taxable profits of sleeping partners and inactive limited partners.

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