Help With Partnership Tax return

[bradleylendrum]

Hi all, I've been self employed for many years and have just started a partnership. I'm use to filing online as a sole trader find it fairly straight forward. I've started to file for year 2016/2017 all fine till i get to where the form indicates "are you part of a partnership" and I check the box. "yes".

I follow the form through to the end and as far as i am concerned it's gone fine, no real issues, until where the tax calculation is made. 1 : The business has not made enough profit to pay any tax, simply national insurance that i expected to pay. 2: If i go back and start again and file the return as a sole trader i get the outcome I expect. simply national insurance to pay.

3: This is the Partnership's first return. Is this why, are they collecting tax in advance? Hope I've given enough information.

 

[Anna Chandley]

Have you registered the partnership with HMRC and obtained a tax reference for the partnership. A partnership files a separate partnership tax return in addition to all the partners filing their own individual tax returns.

It seems like you may be trying to complete the partnership pages of your own tax return rather than an actual partnership tax return.

 

[bradleylendrum]

Hi Anne, Yes i have registered the partnership and have UTR but waiting for my login details to arrive. So am i jumping too far ahead of myself then? So do i file return as a sole trader then? then complete Partnership return.

 

[Anna Chandley]

You should complete the partnership tax return first then use the figures from the partnership tax return to complete the partnership pages on each partners individual return.

You cannot file the partnership tax return using the HMRC online service so you will either need to submit a paper return or use tax software (or use an accountant)

 

[bradleylendrum]

Many thanks Anne, much appreciate the time you've taken to help me out