General partner meaning

General partners Does the limited partnership agreement permit the appointment of a new general partner? If so, what steps must be followed? If not, which additional documents are needed (for example, a deed of variation)? Will the current general partner step down or be removed from office? Please state the name and address of the incoming general partner...

Pre-dissolution What is driving the proposed dissolution? Is the general partner leaving voluntarily or being removed from the partnership, with a successor general partner to be put in place? Is this intended to be a technical dissolution, under which a new general partner will be appointed, or a general dissolution, under which the partnership’s affairs will be wound up? Technical dissolution What does the partnership agreement say about a technical dissolution? Does it specify that, on a change of general partner, a reconstituted partnership, reflecting that change, will immediately succeed the dissolved partnership, assume its assets and liabilities, and continue the business? If it contains no such provision, the partners will need to agree the process separately and determine how the transition should occur...

This table sets out a comparison of the tax treatment for: sole traders; partnerships (for these purposes covering general partnerships, limited liability partnerships (LLPs) and limited partnerships); and companies. It does not take into account any reliefs or exemptions that might be available to specific taxpayers, nor any anti-avoidance provisions that could apply in particular situations. For rates and thresholds in the current tax year, see Practice Note: Key UK tax rates, thresholds and allowances. For further detail on the tax position of each business vehicle, see Practice Note: Forms of business vehicle—tax summary. For more on selecting between business vehicles, see Practice Note: Tax influences on choice of business vehicle. Point of comparison Tax treatment Sole trader: Not a separate taxable entity — the sole trader is taxed personally on their trading activities. Partnership: Not a separate taxable entity — a partner is taxed as an individual on a notional trade reflecting their share of the partnership. Company: A separate...

STOP PRESS: This document is currently being revised to take account of the implementation of the Data (Use and Access) Act 2025 (DUAA 2025), which modifies the UK GDPR and the Data Protection Act 2018. For further guidance on the compliance impact of DUAA 2025, refer to Practice Note: Data (Use and Access) Act 2025—compliance implications. This Flowchart follows the approach outlined by the European Data Protection Board (EDPB) to assess whether you may carry out an international transfer of personal data relying on standard contractual clauses (SCCs) or binding corporate rules (BCRs). These transfer tools can be used only where the safeguards, enforceable rights and legal redress available to individuals in the destination country are essentially equivalent to those guaranteed by the General Data Protection Regulation (GDPR). The ‘essentially equivalent’ benchmark derives from the Facebook Ireland and Schrems ruling (Schrems II), determined under the EU GDPR. The Information Commissioner’s Office (ICO) has issued Guidance on transfer risk assessments, which adopts the phrase ‘sufficiently similar’ for transfers under the...

PI & Clinical Negligence weekly highlights—23 January 2025 In this issue: Public authorities and the state Costs and funding LexTalk®PI & Clinical Negligence: a Lexis®Nexis community LexisNexis® Webinars Daily and weekly news alerts Useful information Public authorities and the state The police owe no general duty to shield individuals from criminal harm, and foreseeability on its own does not create such a duty. Chief Constable of Northamptonshire Police v Woodcock; HD (by their respective litigation friends) v Chief Constable of Wiltshire Police [2025] EWCA Civ 13 comprised two appeals in the Court of Appeal (Civil Division). Each claim examined whether the police could be liable in damages for not preventing injury inflicted by a third party offender. The appeals were heard together. The Court of Appeal rejected the claims of CJ and others alleging a breach of Article 3 of the European Convention on Human Rights and negligence. The police appeal in Ms Woodcock’s case succeeded. There...

In this issue: Corporate Crime in 2025 Criminal liability Legal privilege in criminal cases Criminal procedure and evidence Bribery, corruption, sanctions and export controls Cybercrime and data protection offences Environmental offences Financial services and pensions offences Fraud, forgery, tax and theft offences Health and safety and corporate manslaughter offences Insolvency offences and Companies Act offences Local authority prosecutions Money laundering Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Corporate Crime Highlights 2025/2026 Corporate Crime in 2025 Reflecting on Corporate Crime in 2025 With 2025 nearing its end, Elliott Kenton, partner, and James Camidge, solicitor, at Weightmans look back on a pivotal year for business crime. New corporate crime laws, more enquiries, expansive investigatory powers, and several headline prosecutions have altered the corporate risk landscape this year. See News Analysis: Reflecting on Corporate Crime in 2025... ...

In this issue: Budgets and Finance Bills Taxes management and litigation Business structures Anti-avoidance Employment taxes Devolution International Individuals and income tax Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Budgets and Finance Bills National Insurance Contributions (Employer Pensions Contributions) Bill in the House of Lords The National Insurance Contributions (Employer Pensions Contributions) Bill has passed through the House of Commons and is now being scrutinised by the House of Lords. See: LNB News 23/01/2026 8. Further changes to Finance Bill 2026; Public Bill Committee timetable On 23 January 2026, the UK government introduced additional amendments to Finance Bill 2026 (FB 2026) for the Public Bill Committee to examine: clause 13 (enterprise management incentives) and clause 225 (tax adviser registration). The Committee has also released its schedule, with proceedings due to conclude no later than 26 February 2026. See: Tax—Finance...

Taxation regime What factors determine tax liability in your jurisdiction (eg domicile, residence or citizenship)? Türkiye’s tax landscape is intricate, operating through numerous laws, regulations, communiqués and subsequent amendments. The key legislative instruments include: Tax Procedure Law No. 213 (10 January 1961) Corporate Tax Law No. 5520 (21 June 2006) Value Added Tax Law No. 3065 (2 November 1984) Stamp Tax Law No. 488 (11 July 1964) Income Tax Law No. 193 (6 January 1961) Broadly, the Turkish Tax System is considered under three headings: (i) income taxes, such as individual income tax and corporate income tax; (ii) taxes on expenditure, including Value Added Tax (VAT), the Banking and Insurance Transactions Tax and Stamp Tax; and (iii) taxes on wealth, for example Property Tax and Inheritance and Gift Tax. For natural persons, residency, ownership of property and citizenship are key in determining which taxes apply in Türkiye. An individual’s tax burden is mainly linked to their earnings,...

Who may be beneficiaries Any individual who would be capable of holding property if of full age and sound mind can be a beneficiary under a trust, even where they are not presently of full age or sound mind. Identifying the beneficiaries To establish a valid trust, the three certainties must be satisfied. The three certainties certainty of intention certainty of subject-matter certainty of objects Charitable trusts are not required to meet certainty of objects provided there is a general charitable intention. Certainty of objects—named beneficiaries Every trust deed must set out who the beneficiaries are. In a straightforward life interest trust, there are usually few beneficiaries and they may be identified in the clause that specifies the beneficial interests. For example: ‘The Trustees shall distribute the income of the Trust Fund to [X] for their lifetime and, on their death, shall transfer the capital to [Y].’ Beneficiaries may alternatively be defined in the definitions clause...

FORTHCOMING CHANGE relating to the tax treatment of carried interest: After a call for evidence on the taxation of carried interest conducted over summer 2024, the Autumn Budget 2024 formally confirmed plans to bring in a redesigned regime for carried interest from 6 April 2026, positioned within the income tax system and accompanied by tailored provisions to reflect the reward’s distinctive attributes. A consultation then explored possible new qualifying criteria for entry to the regime, and the government published its response in June 2025. Draft legislation setting out the new carried interest rules was released on 21 July 2025, intended for inclusion in Finance Bill 2026. The regime is to apply to carried interest arising on or after 6 April 2026. These measures were reaffirmed at the 26 November 2025 Budget, which also noted that revisions had been made to the draft legislation following stakeholder input. In the meantime, ahead of commencement of the new framework, the capital gains tax rate applicable to carried interest was increased to 32%...

This Deed of dissolution is entered into on [ insert date ] Parties Each individual whose name and address appear in Schedule 1 (each a Partner and, collectively, the Partners named therein). Background: The Partners have conducted and managed the Business in partnership in accordance with the terms of the Partnership Agreement. The Partners intend to dissolve and wind up the Partnership [ as contemplated by clause [ insert clause number ] of the Partnership Agreement ] on the basis set out in this deed. AGREED TERMS: 1 Definitions and interpretation 1.1 Except where expressly stated otherwise in this deed, the definitions and rules of interpretation in the Partnership Agreement shall govern...

This note offers general guidance about financial disclosure. Your family lawyer will be able to give specific advice tailored to your circumstances. What is financial disclosure? Financial disclosure means providing your spouse or partner, and the court, with complete information about your personal financial position together with your anticipated needs and resources. It is ordinarily the first step your family lawyer will ask you to take, because they cannot advise you properly on the likely outcome of your matter without a clear understanding of where both you and your spouse/partner stand financially. In financial cases, transparency is crucial whatever route you choose to reach an agreement, whether inside or outside the court system. If you commence court proceedings, the court will require both you and your spouse/partner to complete a detailed financial statement (a form known as Form E) before the first hearing. In out-of-court options such as mediation, collaborative law or arbitration, you will usually be asked to use a similar form or document. Why is...

This deed of retirement is entered into on [ insert day and month ] 20[ insert year ] Parties [ insert name of retiring general partner ] of [ insert address ] (the Retiring General Partner); [ insert name of new general partner ] of [ insert address ] (the New General Partner); and The individuals listed in Schedule 1 with their respective addresses (the Limited Partners). background The Partners have conducted the business of the limited partnership in accordance with the Limited Partnership Agreement. The Retiring General Partner will retire from the Limited Partnership on the Retirement Date, and the New General Partner shall be appointed on [ insert date ]. The terms of this deed shall govern the Retiring General Partner’s retirement, in substitution for any provisions of the Partnership Act 1890, the Limited Partnerships Act 1907, and the Limited Partnership Agreement that would otherwise apply to that retirement. ...

Q&A This Q&A proceeds on the basis that the partnership is a general partnership. Partners are strongly encouraged to put a written partnership agreement in place to prevent any unsuitable default rules under the Partnership Act 1890 from automatically applying instead...

Long residence and private life resources—overview The ten-year long residence route set out in the Immigration Rules, Part 7, does not allow dependants to submit applications alongside the principal applicant. This means joint filing is not available under this route. Dependants may, however, apply independently where they satisfy the criteria of the relevant rule. By way of illustration, if a husband and wife have each been lawfully present in the UK for ten continuous years, they must each file their own separate applications under the long residence provisions. See Immigration Rules, Part 7, para 276B–276C. When a Tier 2 (General) migrant secures indefinite leave to remain (ILR) through the long residence rules, their spouse may have scope to seek leave to remain as the spouse of a settled person under Immigration Rules, Appendix FM (see Practice Note: Partners applying for limited leave to remain under Appendix FM: eligibility tables)...