Partnerships
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According to the Partnerships (Accounts) Regulations of 2008, a qualifying partnership is defined as any partnership formed under the law in any part of the United Kingdom, if each partner or member meets specific criteria. If the partnership formed and in a financial year before 1 October 2013, the Partnerships (Accounts) Regulations of 2008 qualifies on the following criteria:
- The organisation is a limited company
- The organisation is an unlimited company or part of a Scottish partnership whose members are a limited company
If a partnership was formed in a financial year that began on or after 1 October 2013, the qualifying criteria includes the following:
- The organisation is a limited company
- The organisation is an unlimited company whose members include a limited company
- The organisation is a Scottish limited partnership that classifies every general partner as a limited company
- The organisation is any other Scottish partnership that classifies every member as a limited company
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