Michael wrote:
> Has anyone in a group partnership split into two separate partnerships
> and successfully made a continuation election which was accepted by
> their local Tax Inspector? This of course applies only to splits made
> prior to the current financial year (when the new self-assessment rules
> make such an election irrelevant for tax purposes).
> --
> Michael
Yes but it was nearly 8 years ago. It also resulted in problems with the
value of equipment, book value did not equal actual value and tax ended up
being payable on a change in the valuation, cost me nearly 2k then. Be
careful!
--
Dr Trefor Roscoe
GP Informatics Tutor - North Trent
Webmaster www.medical-legal.co.uk
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