A separate tax return is required to be submitted to HMRC to provide confirmation of partnership profit shares. The partnership tax return submission is often forgotten, causing unnecessary fines and penalties.
Partnership tax return pages can be tricky, often misunderstood by individuals. Aston Shaw has a fully compliant tax team to ensure the partnership tax return is correct and income sources within the partnership are reported correctly, in line with HMRC’s reporting standards.
The partnership services we offer include:
- Preparation & submission of partnership return to HMRC
- Partnership profit share analysis – available tax savings
- Partners current accounts
- Cessation and overlap profits
- Basis periods
- Loss carry back availability
- Terminal loss relief
Contrary to popular belief, there is actually a distinct difference between tax avoidance and tax evasion. It’s very rare for a month to go by without a story splashed across the news regarding some big name business or celebrity who has been publicly shamed for doing one or the other. But what is the difference […]