Partnerships given breathing space to pay tax
Taxman throws lifeline to partnerships
Large partnerships will be given breathing space to pay the tax man under a
new policy aimed at helping large firms with cash flow problems,
Law Society Gazette reports.
As part of the Business Payments Support Service (BPSS), large partnerships
will be able to negotiate with a partnership as a whole, to delay tax payments,
rather than each partner negotiating individually.
The partnership will have to convince authorities partners will be able to
pay their tax liability in full, in the next 12 months.
Read the full story:
tax break for large law firms