Hello, In calculating CA, assuming there are assets used privately too by partners, do we prepare separate CA calculations for each partner individually and then deduct them from the allocated profits for each partner? Or just one calculation for all the items and deduct it to drive adjusted trading profit, and then allocate the profit to each partner? Do we use the same logic/way in adding back and deducting the disallowed items and allowed items? Thank you
Capital allowances are deducted as normal from the adjusted trading profit of the partnership and the tax adjusted trading profit is then divided between the partners according to PSA in force during the accounting period
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