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Shared partnership - percentage question
PenguinForever
Posts: 44 Forumite
in Cutting tax
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!
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!
0
Comments
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The profits should be split in accordance with your partnership agreement that you will have if you are completing a partnership tax return.0
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It’s not more complicated than that. Allocate as you see fit.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!(I imagine that, as a married couple, there is no partnership agreement).0 -
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QCR is split 50% each0
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Not sure how but the government haven't updated the correct figures in this link.sheramber said:
QCR is now £18040 for this tax year and the weekly amounts are now £375 and £4500
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