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Introduction

The Partnership Act 1890, s 1(1) provides the following definition of a partnership:

1. 1)

   “Partnership is the relation which subsists between persons carrying on a business in common with a view of profit.

2. 2)

   But the relation between members of any company or association which is ―

3. 1. a)

      registered under the Companies Act 2006, or

   2. b)

      Formed or incorporated by or in pursuance of any other Act of Parliament or letters patent, or Royal Charter

is not a partnership within the meaning of this Act.”

De Voil Indirect Tax Service V2.110

A partnership is an unincorporated association in which the agreement between the parties