MacKinlay v. Arthur Young McClelland Moores & Co., [1989] S.TC 898, [1989] UKHL TC, [1989] BTC 587 (HL) -- summary under Paragraph 96(1)(f)

By services, 28 November, 2015

Lord Oliver stated (p. 589) that "if, with the agreement of his partners, [a partner] pays himself a 'salary', this merely means that he receives an additional part of the profits before they fall to be divided between the partners in the appropriate proportions. But the 'salary' remains part of the profits."

Topics and taglines
Topic
Income Tax Act - s. 96(1)(f)
Tagline
"salary" to partner is part of profits division
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
339708
Extra import data
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