CH 18 - Partnership Admissions and retirements Flashcards
1
Q
How the profit from retiring partner
is assessed in 2023/24?
A
Under CYB
2
Q
When partnership can not claim CA on P&M?
A
When a partner lets the asset to the partnership.
Then its a partner not partnership who claims Cap.Allowances on P&M.
3
Q
When change of all partners in a partnership
is treated as a cessation of trade?
A
When all of the old partners leave and are replaced with new ones.
