If you are a business running as a partnership, you must file a Partnership Tax Return SA800 showing income or losses generated by the Partnership business and this might include supplementary pages depending on what types of income the partnership business has.
Partnership tax returns must also show each partner's share of the profits or losses.
Whilst a nominated partner is responsible for filing or authorising the filing of partnership tax returns, all partners are jointly liable for the accuracy of those tax returns. Where the returns are not submitted to the HM Revenue & Customs within the specified timescale, all partners are liable for any penalties, surcharges and interest.
Individual Partners will also have to file an individual Self Assessment tax return form SA100 and will also have to fill in the partnership supplementary pages SA104 Short or SA104 Full.
Give us a call to chat the requirements of both your Partnership and those of the individual Partners.