Help with Tax Return

yorkrose

Hello all!

Hoping somebody will be able to help me!!!

I have filled out self assessment tax returns for an individual before, so this is no problem.

However, last financial year 2013-2014, my partner and I became a partnership. We are not in profit yet. As such, and because we have an 11 year old son, we claim Child and Working Tax Credits.

I am now feeling very stupid and confused about what Tax Return I am meant to be filling in for the partnership. I know I have to do the SA100 and SA104 pages for each of us (my partner and myself) and this is not causing a problem.

What is causing a problem is the fact that, since our business matters are fairly simple (i.e money goes in from clients, payments for stuff we use comes out, we get a few pence interest from the bank occasionally which they have automatically deducted tax from, and that's it!) that I only needed to fill in the short partnership tax return SA800. However, just browsing through the full version of the partnership tax return, I noticed there is a box called "tax credits". Is this referring to tax credits as in the benefits (working and child tax credits), or is it referring to something completely different? I now don't know whether I need to fill in the full return because we claim working and child tax credits, or if this is referring to something totally different, and thus we only need fill in the short return.

Can anyone help? *feeling stupid*:o

purdyoaten

The tax credits on the form have absolutely nothing to do with the tax credits that you refer to - usually refer to tax credits from abroad.

Can I ask:

When the business commenced?

When it became a partnership?

yorkrose

It commenced April 2013 (after 6th April ) and was automatically a partnership from the word go!

The self assessment forms I had filled out before were for a different period of self employment as a sole trader which was a completely different business which had closed and ceased trading prior to the commencement of this particular partnership.