SEISS to one partner in a partnership

skycatcher

Hi,

I'm about to do our partnership tax return and am a little unclear as to how to proceed. There are 2 people in the partnership (me and my wife!) and she was eligible for the SEISS grants last year and I wasn't as I am receiving more than 50% of pay from my pension. I knew it was taxable so I included it in the profits of the business but after reading the guidence notes for the partnership return i'm wondering if this is not the correct. 

Anyone shed any light on this?

Thanks.

MattMattMattUK

Your pension and your wife's SEISS grants should be declared on your individual tax returns, they should not be on the partnership return.

Jeremy535897

MattMattMattUK said:

Your pension and your wife's SEISS grants should be declared on your individual tax returns, they should not be on the partnership return.

The taxation of SEISS grants in partnerships depends on whether the partner retains the grant, or whether it is paid into the partnership. See:
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim40458

skycatcher

Thanks... All sorted now!