Partnership Tax Return?

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Hello All

I am doing some book keeping for a couple who own a hotel. Would they need to do a partnership tax return or individual tax returns?

I look forward to your help!

[Williams lester]

Is it a partnership or does one person employ the other?

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Partnership - They are a couple - Husband and Wife. Both own the hotel jointly.

[Williams lester]

Well if they are a partnership...then they would need a partnership tax return, then the partnership profit share is shown in the individual self assessment returns.

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OK, thanks for your advice. I will double check with them.

So if they are a partnership will they need to do a partnership tax return and a self assessment return too?

[Williams lester]

So if they are a partnership will they need to do a partnership tax return and a self assessment return too?

Yes. They will need a partnership tax return and they will both need self assessment returns.

[ADS-MARKETING]

OK, that seems quite long winded. Wouldn't it be easier just to do self assessment returns only? Is that possible.

[Ray_Stewart]

No :)

It's the way the rules work.

[Williams lester]

http://www.hmrc.gov.uk/sa/complete-parts-partners.htm

[ADS-MARKETING]

Ah - I did try to find it earlier. Thanks for your advice, much appreciated.

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Not done a partnership before!