Partnership Tax Returns
Partnership Tax Returns
Are you a Partnership Business?
At Norden Hills Accounting we prepare and submit Partnership Self-Assessment returns as well as all tax computations for both the partnership, its individual partners.
Tax Returns for Partners and Partnerships
We help you do it Right
If your business is run as a partnership, you’ll have to complete an individual Self-Assessment tax return (SA100). When you send a paper tax return, you also have to fill in the partnership supplementary pages (SA104). The nominated partner must also complete a Partnership Tax Return (SA800) showing each partner’s share of the profits or losses. This might include supplementary pages too, depending on what types of income the partnership has.
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The Nominated Partner
The nominated partner handles sending in the partnership tax return. But all the partners will be jointly liable for any penalties and interest if the tax return is late or inaccurate. Each partner is personally responsible for paying the tax and Class 4 National Insurance contributions due on their share of the partnership profits.