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Posted Tue, 06 Jun 2023 15:29:35 GMT by Turquoise34
Hi. My child and I run a microbusiness as a partnership. They make a product and I deal with marketing and sales. We made very little last year, but did earn over £1000 so have to file a return. I'm finding it a bit overwhelming! So, we didn't pay ourselves a regular wage from income, but I did make a couple of lump sum payments from our account to our child. I didn't pay myself the same amount though. How do I declare this on the SA800 form? Thanks for any advice you may have.
Posted Thu, 08 Jun 2023 13:18:18 GMT by HMRC Admin 10
Hi
If the payments to your child were from your own account and not the actual partnership, this would not be included on the return.
Any wages are not included as part of the turnover as this is just accounting purposes.
Further guidance on how to complete the return is at:
Partnership Tax Return Guide
Thankyou.

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