As a co-owner of a limited partnership, you have probably experienced that if there has been a passive investment in property, wind turbines or solar farms, it now requires you to take an active position on a wide range of issues. At Baker Tilly, we want to be your and your limited partnership’s sparring partner about the optimisation of the operation, financing and especially dealing with tax.
At Baker Tilly, we assist about 700 limited partners with the preparation of the annual tax return, including the preparation of specifications for the corporate tax scheme. As a limited partner, each year you receive an annex to the tax return from the administrator containing specifications for your personal tax return. This annex is, however, general and not necessarily optimised to your tax situation. If you participate in more than one limited partnership, you are also obligated to report overall specifications to the corporate tax scheme.
We can assist in optimising the tax treatment of your limited partnership, for example, by transferring private debt to the corporate tax scheme.
At Baker Tilly we assist a wide range of limited partnerships with the optimisation of tax in connection with the sale, or when there are challenges with financing, liability or deduction restrictions. Our core competence is undoubtedly within accounting and tax, and especially the tax part is relevant when a limited partnership is to change ownership, sell an asset or change the financing.
In the area of limited partnerships, we can state that SKAT (the Danish tax authority) is currently exhibiting aggressive behaviour with the implementation of certain decisions that conflict with past practice and guidance. We keep ourselves updated on laws and practices and will gladly assist you to run cases against SKAT.
If you have questions about your specific situation, please contact our specialists in our limited partnership team. At Baker Tilly, we want to be the preferred choice for limited partnerships. We consider a limited partnership to be a company like any other and want to assist business owners with active sparring on accounting and tax issues. We regularly participate in the annual general meeting and act on behalf of the limited partners. We are always ready for a no-obligation meeting on how Baker Tilly can assist you and/or your limited partnership.