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
It is a sad fact that around this time of year, scammers will often pose as HM Revenue & Customs (HMRC), due to many taxpayers having payments due by 31st July. Scammers may attempt to communicate with you through a variety of methods, including emails, telephone calls, letters, and text messages. The key thing we […] Read more