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partnership
flick24
Posts: 154 Forumite
in Cutting tax
Hi, My partner is registered as self employed and was running his own plastering business, he is not happy in this industry so we decided to find something we can do together. So he has bought some stock and has secured a market stall spot which we will be doing together, He's not great with admin, ordering etc so I'm doing all that side of things.
I'm not sure what we would need to do in terms of HMRC, as he's already self employed, do I just need to register also or should this be a partnership.
I'm not sure what we would need to do in terms of HMRC, as he's already self employed, do I just need to register also or should this be a partnership.
0
Comments
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This is a business partnership, three tax returns will be required, yours, your partners and a partnership return. You will need to register yourself, individually as self employed and also the partnership.
The partnership return is not as easy, administratively, as the individual return as HMRC has no facilities to submit it.The only thing that is constant is change.0
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