Shared partnership - percentage question

PenguinForever

Hello, 

My wife & I are shared lives carers. It’s very similar to fostering, but instead of children, it’s vulnerable adults.
Every year, we do a self assessment as a partnership and do it as 50% share each.
This year, due to various reasons, if I stated my share was 80% and hers 20%, we would save some money.
truth be told, we don’t have a share, it just goes into our shared account and gets spent on all the bills! I am just wondering if on our next assessment if it was as easy as just putting the new share I suggested, or is it more complex than that?
thanks for any replies I get!

BoGoF

The profits should be split in accordance with your partnership agreement that you will have if you are completing a partnership tax return.

[Deleted User]

PenguinForever said:

Hello, 

My wife & I are shared lives carers. It’s very similar to fostering, but instead of children, it’s vulnerable adults.
Every year, we do a self assessment as a partnership and do it as 50% share each.
This year, due to various reasons, if I stated my share was 80% and hers 20%, we would save some money.
truth be told, we don’t have a share, it just goes into our shared account and gets spent on all the bills! I am just wondering if on our next assessment if it was as easy as just putting the new share I suggested, or is it more complex than that?
thanks for any replies I get!

It’s not more complicated than that. Allocate as you see fit. 

(I imagine that, as a married couple, there is no partnership agreement). 

sheramber

https://www.gov.uk/government/publications/qualifying-care-relief-foster-carers-adult-placement-carers-kinship-carers-and-staying-put-carers-hs236-self-assessment-helpsheet/hs236-qualifying-care-relief-foster-carers-adult-placement-carers-kinship-carers-and-staying-put-carers-2020

HolidayHelp

QCR is split 50% each

HolidayHelp

sheramber said:

https://www.gov.uk/government/publications/qualifying-care-relief-foster-carers-adult-placement-carers-kinship-carers-and-staying-put-carers-hs236-self-assessment-helpsheet/hs236-qualifying-care-relief-foster-carers-adult-placement-carers-kinship-carers-and-staying-put-carers-2020

Not sure how but the government haven't updated the correct figures in this link. 

QCR is now £18040 for this tax year and the weekly amounts are now £375 and £450