Income tax question

[halcyon9]

I am a sole trader and recently took on some work (about £10k's worth) which my partner actually did (my life partner not business partner!).

I invoiced the client and will obviously record the earnings in my accounts and pay tax on them, but I wish to give the money to my partner (which is only fair as she did the work!). Can I just give her the money - effectively as a gift - or would she then have to declare it and pay tax on it herself?

Thanks in anticipation!

 

[Alpha]

Providing you pay the tax on it and you give the money to your partner who will know? :wink:

 

[halcyon9]

Are you allowed to say that as an accountant? :wink:

That's certainly an option but I just wondered what the official view would be from an Inland Revenue perspective.

 

[dcaccounting]

I know the Revenue are faultures but even they wouldn't tax it twice :wink:

Regards

Dean