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Corporation Tax Act 2009

Section 1258: Assessment of partnerships

3184.This section makes it clear that, for corporation tax purposes, a firm is not an entity distinct from the partners in the firm. It is based on section 111 of ICTA. The corresponding rule for income tax is in section 848 of ITTOIA.

3185.The section extends the treatment of trades carried on by firms to businesses that are not trades. It is based on section 111(10) of ICTA which was repealed in error by ITTOIA. This brings the income tax and corporation tax codes back into line. See Change 84 in Annex 1.

3186.In the case of firms established under English law this provision merely confirms their position under that law. But Scottish firms, for example, are legal entities. This provision ensures that all firms are treated in the same way.

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