Search Legislation

Taxes Management Act 1970

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As enacted)

Status:

This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format.

9Partnership return

(1)Where a trade or profession is carried on by two or more persons jointly, the precedent partner, that is to say, the partner who, being resident in the United Kingdom—

(a)is first named in the agreement of partnership, or

(b)if there is no agreement, is named singly, or with precedence to the other partners in the usual name of the firm, or

(c)is the precedent acting partner, if the person named with precedence is not an acting partner,

shall make and deliver a return under section 8 above of the profits or gains of the trade or profession, on behalf of himself and the other partners, and declare in the return the names and residences of the other partners.

(2)Where no partner is resident in the United Kingdom, the return shall be made and delivered by the agent, manager or factor of the firm resident in the United Kingdom.

(3)Any other partner may, if a return has been delivered as aforesaid, notify the fact that he is a partner together with his name and place of abode, without returning the amount of tax payable in respect of the partnership, but an inspector may, if he thinks fit, require from every partner a like return, and the like information and evidence, as he is entitled to require from the precedent partner.

(4)This section shall apply to income chargeable to income tax in accordance with section 155 of the principal Act (partnerships involving companies), matters relevant only to corporation tax being omitted from the return, and the obligation to make and deliver the return being that of the individual partner or partners.

(5)Any return of the profits or gains of a partnership delivered under this section shall include, with respect to any disposal of partnership property during the year of assessment to which the return relates, the like particulars as if the partnership were chargeable under Case VII of Schedule D in respect of any gain accruing on the disposal.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources