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Capital Account in United Kingdom

Brief Introduction to Capital Account in Partnership Law

The partners in a partnership or members of an LLP have both Capital and Current Accounts. Other Short note (s) in relation wth Capital Account here:

  • The Capital Account represents their share of the equity of the business and is made up of money (or other assets) they have introduced into the business. This is repaid to them when they retire.
  • The Current Account represents their share of profits and losses and profits can be withdrawn as drawings.
  • This is an advance summary of a forthcoming entry in the Encyclopedia of Law. Please check back later for the full entry.



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    (2016, 02). Capital Account lawi.org.uk Retrieved 07, 2021, from https://lawi.org.uk/capital-account/

    02 2016. 07 2021 <https://lawi.org.uk/capital-account/>

    "Capital Account" lawi.org.uk. lawi.org.uk, 02 2016. Web. 07 2021. <https://lawi.org.uk/capital-account/>

    "Capital Account" lawi.org.uk. 02, 2016. Accesed 07 2021. https://lawi.org.uk/capital-account/

    Margaret Parker, 'Capital Account' (lawi.org.uk 2016) <https://lawi.org.uk/capital-account/> accesed 2021 July 31

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    Schema Summary

    • Article Name: Capital Account
    • Author: Margaret Parker
    • Description: Brief Introduction to Capital Account in Partnership Law The partners in a partnership or members of an LLP have both [...]

    This entry was last updated: February 23, 2016

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