Partnership Tax Returns

Our Partnership Tax Return service

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 unfortunately  forgotten by individuals which can lead to unnecessary fines and penalties. 

Submitting them can also be a confusing business if you're unfamiliar with the process. We are here to help and ensure your tax return is correct and income sources within the partnership are reported correctly, in line with HMRC’s requirement.

The returns must be submitted every 12 months, you need to complete a tax return for the partnership and one for each partner involved. Items such as travel expenses, mobile phone contracts and postage are all tax-deductible.

The service we offer is both helpful and flexible to your needs. We can either complete the tax return or we can submit returns for all the partners too. This is totally your decision. Once you’ve have decided, we can then proceed with completing the relevant tax returns and submitting them to HMRC.

Our partnership service includes the following:

• Preparation & submission of partnership return to HMRC

• Partnership profit share analysis and available tax savings

• Partners current accounts

• Cessation and overlap profits

• Basis periods

• Loss carryback availability

• Terminal loss relief

We make submitting a return as easy and as simple as possible for you and the initial consultation is free, to discuss your requirements and your partnership status.

Once agreed, we can begin processing your return and  submitted, so you can feel reassured its all done .

For more information on our CIS Tax Returns service, please Contact Us