I entered into a partnership some years ago we shared the profit equally
with the second partner.
My partner now has other business interests and does not have as much time
to work with me.
We both agree the split this year would be 70 : 30 but it may change each
year.
When a partnership is formed, does the partnership "split" have to remain
the same from year to year.
If not, can the new split simply be shown on the partnership return, without
any other documentation?
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Re: Partnership switch ... Your post is vague about whether this is a company or a partnership,... If your friend's competitor has a basis to sue the business... your friend is currently operating, what is the exact nature of the ... (uk.legal)
Re: Partnership switch ... Your post is vague about whether this is a company or a partnership,... If your friend's competitor has a basis to sue the business... your friend is currently operating, what is the exact nature of the ... (uk.legal)
