In this month's Accountancy Daily CPD module, we examine the tax implications of partnerships and reporting profits and losses

By completing this module you will be able to:

• the definition of a partnership and the three main types of partnership;
• how partnerships are treated for tax purposes and how profits and losses are calculated;
• how partnership profits and losses are allocated to partners; and
• when and how partnership profits and losses should be reallocated between partners.

This CPD module takes 25 minutes to complete and is followed by a short quiz to ensure thorough learning. There are also detailed course notes to ensure a full learning experience. Any CPD learning is also automatically added to Your CPD Tracker.

The CPD course has been prepared by Laura Burrows, tax writer at Croner-i

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