Venture adventure

We act for an investment partnership which we understand is a limited partnership set up under the Limited Partnerships Act 1890.

The partners each have a small capital interest in the partnership let’s say £106.25 and have each loaned the partnership £124 893.75 making an investment of £125 000 in total. The partnership then puts these monies into various investments.

All except two of the partnership investments are now either in liquidation have been struck off or are of negligible value.

However of the two remaining one is “bubbling along” and the other will actually make a good return. We have several questions.

First the partnership has notified the losses of the individual investments on its annual self-assessment partnership tax return.

However if an individual investor has not declared a loss on their matching self-assessment tax return will this...