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Capital allowances – expenditure on research and development – whether partnership
trading – quantum of expenditure incurred on research and development – whether trade
conducted on a commercial basis – location of partnership’s trade – income tax relief for
interest incurred on borrowings to fund partnership capital – deductibility of fee incurred by
partnership in consideration for services – whether wholly and ordinarily incurred for the
purpose of the partnership’s trade.
Published 1 December 2016