Policy paper

Tax treatment of limited liability partnerships

This Tax Information and Impact Note is about the treatment of certain limited liability partnerships for Income Tax, Capital Gains Tax and Corporation Tax.

From:
HM Revenue & Customs
Published
11 March 2020

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Tax treatment of limited liability partnerships

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This measure confirms that when an limited liability partnership (LLP) has delivered an LLP partnership return on the basis of operating ‘with a view to profit’ and is then found to be operating ‘without a view to profit’, HMRC can still amend the LLP members’ returns based on the LLP return as originally submitted.

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Published 11 March 2020

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