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Posted Fri, 05 Jan 2024 21:58:58 GMT by
I have a salaried employment and am a partner in a family partnership. Does the profit from the partnership which I have to declare on my self assessment, count as net income? I am trying to determine what box to tick re. the child benefit and adjusted net income. My salary is under the £50,000 threshold for child benefit, however the partnership profit takes it above £50,000. Thanks in advance.
Posted Thu, 11 Jan 2024 15:42:56 GMT by HMRC Admin 20
Hi katie smith,
Yes, your share of the partnership profits form part of your total taxable income, and should be taken into account when calculating your adjusted net income.
Thank you.

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