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Where a business is trading as a partnership, the partnership is treated as the person under the POTAS regime. The main provisions of the legislation apply to a partnership (with relevant modifications). This includes limited partnerships but not limited liability partnerships (LLPs) as they are regarded as body corporates and treated as such under the POTAS regime¹.

The partnership is deemed to have done any act that binds its members or to have failed to comply with any obligation of the firm with which the members failed to comply. However, those provisions only apply to members of a partnership or general partners of a limited partnership who were members or general partners when the act or failure occurred. A member who had left the partnership before, or joined it after, any such act or failure is therefore not tainted by those acts or failures².

The following notices can be issued to a partnership under the POTAS regime:

1. Ìý

   •ÌýÌýÌýÌý stop notice³. See V5.212C

2. Ìý

   •ÌýÌýÌýÌý conduct