Partnership - Must have another Self Assessment Form??

HugoSP

Is it absolutely necessary for a partnership to submit a self assessment form when both partners are submitting their own SA forms together with short partnership forms?

Thanks.

Hoddie_2

Yes as it where you show the turnover and expenses amongst other things.

Cook_County

Bearing in mind that you have just complained about your "accountant" but you do have one shouldn't you be asking your adviser this kind of question?

I note that you don't understand the way the UK tax system works as you make clear in this question, so using a qualified adviser would be a safer bet than an open forum.

http://forums.moneysavingexpert.com/showthread.html?t=685573

HugoSP

Cook_County wrote: »

Bearing in mind that you have just complained about your "accountant" but you do have one shouldn't you be asking your adviser this kind of question?

I have just been presented with a bill for this tax return that I was not aware would be needed. Hence that is why I'm asking for an answer here. I could have spoken to HMRC themselves but they couldn't find a technician to answer the question for me, so, knowing that there are experts here, I posted the question here.

It seems that I do need to fill one in - fine, and thank you all

I note that you don't understand the way the UK tax system works as you make clear in this question, so using a qualified adviser would be a safer bet than an open forum.

http://forums.moneysavingexpert.com/showthread.html?t=685573

Although I understand how taxation works with individuals, this is the first year that I have been involved in a partnership. You'll have to excuse me for learning - so sorry.

As far as my previous question is concerned, this was about my expectations as to the level of service I have been receiving. I have never used accountants before I became self employed and have been using this firm, so I have no benchmark to compare them with.

I would be interested as to which bit of my post makes it clear that I do not understand the UK Tax system. Although I am no expert, the basic principles are quite simple, are they not? Or have I demonstrated that I am missing an essential piece of the puzzle, and if so how?

An idiots guide would be very helpful in this respect if possible please.

Ideally I would like to become self sufficient in my tax affairs but for now that is not an option for a number of reasons.

Though a free HMRC course may seem a good idea...

System

The full partnership return is required to be completed by the main/nominated partner so that HMRC are aware of the full profits etc of the business and how it is split between all the partners. They use this return to compare it with what each individual partner declares on their own short partnership return page.