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partnership self assesment

Discussion in 'General Business Forum' started by frankie007, Jul 13, 2018.

  1. frankie007

    frankie007 UKBF Newcomer Free Member

    16 3
    Hello all,
    I am a nominated partner for our partnership( ordinary). I have started on out partnership self assesment but I am in trouble already. We started as partners in January, have turned just over £40 K until April 2018. I think we need partnership statement(short) ? Does anyone know. I have answered no to all questions on page one of the form but I am not sure about this one:
    -Did the partnership business include a trade or profession at any time between 6 April 2017 and 5 April 2018?
    What are they asking here? I am sorry but I am not English so don't quite understand.....
    Has anyone of you filled in this forms and remembers? Any info will be greatly appreciated
    many thanks to all....
     
    Posted: Jul 13, 2018 By: frankie007 Member since: Feb 23, 2018
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

    13,378 2,897
    What did you do to earn this money?
     
    Posted: Jul 13, 2018 By: Scalloway Member since: Jun 6, 2010
    #2
  3. frankie007

    frankie007 UKBF Newcomer Free Member

    16 3
    We franchise a kitchen in a pub and supply pubs customers with food. Money goes through their till, we pay percentage and keep the rest. We issue the invoice for this weekly
     
    Posted: Jul 13, 2018 By: frankie007 Member since: Feb 23, 2018
    #3
  4. Scalloway

    Scalloway UKBF Legend Free Member

    13,378 2,897
    Then I would say you had a trade.
     
    Posted: Jul 13, 2018 By: Scalloway Member since: Jun 6, 2010
    #4
  5. frankie007

    frankie007 UKBF Newcomer Free Member

    16 3
    Thank you
     
    Posted: Jul 13, 2018 By: frankie007 Member since: Feb 23, 2018
    #5