A partnership tax return is required to be submitted to HMRC to provide confirmation of partnership profit shares.
Partnership tax returns are often misunderstood (or simply forgotten) by individuals which can lead to unnecessary fines and penalties. Submitting them can also be a tricky business if you lack the technical know-how. Our tax team are on hand to ensure that your tax return is correct and income sources within the partnership are reported correctly, in line with HMRC’s reporting standards.
They must be submitted every 12 months, you need to complete a tax return for the partnership and one for each of the partners involved. Items such as travel expenses, mobile phone contracts and postage are all tax-deductible.
Our services are flexible and customisable to your needs, we can either just complete the tax return or we can submit returns for all the partners too. It’s completely up to you. Once you’ve decided what you want from our service we can proceed with completing the tax returns and submitting them to HMRC.
The partnership services we offer include:
We start with a free, initial consultation to discuss your needs and the nature of your partnership over a cup of tea or coffee. Once we’ve agreed on how we can help you, we’ll waste no time in getting your return submitted so you can relax in the knowledge that you’re fully compliant.
Other services we offer that may be of interest to you include:
To find out more about our forensic accounting service, please contact one of our friendly advisors.