Xavier Hardy

Good morning, I hoped to clarify a shared business situation and how the income would be taxed. I currently run a YouTube and Patreon with 2 friends, the way these sites work is they payout out to a single account (Mine) and then I distribute everyone's third to their respective account. For them, the situation is quite easy as they receive the money and then can file it under their own self-assessment tax. For myself, I already file under self-assessment so adding these figures to my total is not a problem. My concern however is when I declare the numbers on my self-assessment these numbers will only be 1/3 of what I received from YouTube and Patreon in my bank account. Will this likely be an issue when declaring my self-assessment that I should clarify somewhere? Is there a way I can more formally represent this relationship to avoid any issues? Was struggling to find any information on this specific type of arrangement so any guidance would be really appreciated