Finance Act 2022

Application of public interest business protection tax to partnerships and trusts

33 (1) Where a person chargeable to public interest business protection tax as a result of paragraph 1 or 5 is a partnership the responsible partners are jointly and severally liable to any amount to which the partnership is assessed.

(2) The reference in sub-paragraph (1) to “the responsible partners” is to all the persons who are members of the partnership at any time during the disqualifying period.

(3) A partnership is treated as the same partnership notwithstanding a change in membership if any person who was a member before the change remains a member after the change.

(4) Where a person chargeable to public interest business protection tax as a result of paragraph 1 is a trustee, or a body of trustees, of the asset to which the tax relates, the tax may be assessed and charged on and in the name of any one or more of the relevant trustees.

(5) The reference in sub-paragraph (4) to “the relevant trustees” is to all persons who are trustees at any time during the disqualifying period, and any subsequent trustees.