Skip to main content

beta This is a new service – your feedback will help us to improve it.

Tax partnership no longer necessary

Deborah Moore
Posted Fri, 22 Dec 2023 12:32:57 GMT by Deborah Moore
Hi We set a tax partnership for year 22/23 but realised now this wasn't necessary and we can declare our earnings individually as self employed. Can I cancel the tax partnership and then not need to submit a return this year for the partnership?
HMRC Admin 21 Response
Posted Wed, 03 Jan 2024 11:05:42 GMT by HMRC Admin 21 Response
Hi Deborah,
You will need to submit a nil return for the partnership to close the record and then declare the income as self employment.
Thank you.
 
Answer
Deborah Moore
Posted Wed, 03 Jan 2024 13:16:55 GMT by Deborah Moore
Perfect thank you. So we would still tick we are partnership on the individual return and enter nil on there too.
HMRC Admin 10 Response
Posted Mon, 08 Jan 2024 12:52:40 GMT by HMRC Admin 10 Response
Hi
Yes, that is correct.

You must be signed in to post in this forum.