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Finance Act 2014
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 212(4)(f) and word inserted by 2021 c. 26 Sch. 27 para. 43(b)(ii)
- s. 212(5)(a)(iv) and word inserted by 2021 c. 26 Sch. 27 para. 43(c)(ii)
- s. 212(5)(b)(iv) and word inserted by 2021 c. 26 Sch. 27 para. 43(c)(iv)
- s. 212(5)(c)(iv) and word inserted by 2021 c. 26 Sch. 27 para. 43(c)(v)
- Sch. 31 para. 2(3)(b) inserted by 2017 c. 32 Sch. 14 para. 45(2)(a)(iii)
- Sch. 31 para. 2(4A) inserted by 2017 c. 32 Sch. 14 para. 45(2)(c)
- Sch. 31 para. 3(1A) inserted by 2017 c. 32 Sch. 14 para. 45(3)(b)
- Sch. 31 para. 5(b) inserted by 2017 c. 32 Sch. 14 para. 45(4)(c)
- Sch. 31 para. 2(3)(a) words inserted by 2017 c. 32 Sch. 14 para. 45(2)(a)(ii)
- Sch. 31 para. 5(a) words inserted by 2017 c. 32 Sch. 14 para. 45(4)(b)
- Sch. 31 para. 2(3)(a) words renumbered as Sch. 31 para. 2(3)(a) by 2017 c. 32 Sch. 14 para. 45(2)(a)(i)
- Sch. 31 para. 5(a) words renumbered as Sch. 31 para. 5(a) by 2017 c. 32 Sch. 14 para. 45(4)(a)
- Sch. 32 para. 1(2)(b) inserted by 2017 c. 32 Sch. 14 para. 46(2)(a)(iii)
- Sch. 32 para. 1(3A) inserted by 2017 c. 32 Sch. 14 para. 46(2)(c)
- Sch. 32 para. 1(2)(a) words inserted by 2017 c. 32 Sch. 14 para. 46(2)(a)(ii)
- Sch. 32 para. 1(2)(a) words renumbered as Sch. 32 para. 1(2)(a) by 2017 c. 32 Sch. 14 para. 46(2)(a)(i)
PART 1U.K.Partnerships as persons
“Person” includes a partnershipU.K.
1(1)Persons carrying on a business in partnership—U.K.
(a)are regarded as a person for the purposes of this Part of this Act;
(b)are referred to in this Part as a “partnership”.
(2)But in this Part of this Act “partnership” does not include a body of persons forming a legal person that is distinct from themselves (and paragraphs 2 to 21 may accordingly be disregarded in applying this Part of this Act to such a body of persons).
(3)In the references in this Part to carrying on a business in partnership, “partnership” has the same meaning as in the Partnership Act 1890.
Continuity of partnershipsU.K.
2U.K.A partnership is regarded for the purposes of this Part of this Act as continuing to be the same partnership (and the same person) regardless of a change in membership, provided that a person who was a member before the change remains a member after the change.
Meeting of conditionsU.K.
3(1)Accordingly, for the purposes of this Part of this Act a partnership is taken—U.K.
(a)to have done any act that bound the members, and
(b)to have failed to comply with any obligation of the firm which the members failed to comply with;
but see sub-paragraph (3).
(2)In sub-paragraph (1), “the members” means those who were the members of the partnership or (in the case of a limited partnership) the general partners of the partnership at the time when the act was done or the failure to comply occurred.
(3)Where a member of a partnership (“M”) has done, or failed to do, an act at any time (“the earlier time”), the partnership is not treated at any later time as having done, or failed to do, that act unless—
(a)M, or
(b)another person who was a member of the partnership at the earlier time,
is a member of the partnership at the later time.
(4)In this paragraph “firm” has the same meaning as in the Partnership Act 1890.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
F14U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 36 para. 4 and crossheading omitted (with effect in accordance with Sch. 19 para. 9 of the amending Act) by virtue of Finance Act 2015 (c. 11), Sch. 19 para. 5(a)
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