A: Where profit shares and building ownership shares are the same, you can get away with having one partnership account and not having to split benefits and responsibilities between the premises and the practice.
But as soon as either the partners change or their shares start to differ, there needs to be a strict division between what relates to the premises and what does not - and there should be a separate premises (or property) section in the annual accounts.
The premises account should show the notional rent and rates reimbursement as income. Rates payments, loan interest, buildings insurance, structural and external repair and external decoration would be shown as expenses.
The partnership should be regarded as 'tenants' responsible for the general running costs of the practice to include all utility charges, internal repair and decoration - all costs not allowed for in notional rent.
It follows that if capital repayments on the loan are made out of practice profits, you need to be able to track them from the practice to see clearly how the capital repaid should be apportioned between partners in the premises account.
Your accountant can explain the detail. Any grant funding should be credited to the premises account.