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Home Forums Patrick Cannon Does a 1907 Act limited partnership need to carry on a business? Reply To: Does a 1907 Act limited partnership need to carry on a business?

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Patrick
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No they are the same – see s7 of the 1907 Act which applies the same rules to limited partnerships except where the Act provides otherwise. LLPs formed under the 2000 Act may just be a different matter but it will normally be sensible to include some business activity in them in order to achieve direct tax transparency.