SCHEDULE 7PARTNERSHIPS
PART 3ORDINARY PARTNERSHIP TRANSACTIONS
Joint and several liability of responsible partners
11
1
Where the responsible partners are liable to pay—
a
tax or late payment interest on that tax,
b
an amount under section 55 of TCMA (recovery of excessive repayment) or late payment interest on that amount, or
c
a penalty under Part 5 of TCMA or late payment interest on that penalty,
the liability is a joint and several liability of those partners.
2
No amount may be recovered under sub-paragraph (1)(a) or (b) from a person who did not become a responsible partner until after the effective date of the transaction in respect of which the tax is payable.
3
No amount may be recovered under sub-paragraph (1)(c) from a person who did not become a partner until after the relevant time.
4
The relevant time is—
a
in relation to so much of a penalty as is payable in respect of any day, or to late payment interest on so much of a penalty as is so payable, the beginning of that day;
b
in relation to any other penalty, or to late payment interest on the penalty, the time when the act or omission occurred that caused the penalty to become payable.
5
In this paragraph, “"late payment interest”” means late payment interest under Part 6 of TCMA.