Tax Returns

Submitting the partnership tax return

Once the partnership is up and running, you will need to file a partnership tax return covering the partnership’s income for the tax year ended 5 April.

This tax return will incorporate the names, addresses, tax districts and references of each partner and each partners share of profits (or losses) along with the overall taxable profits (or tax adjusted losses) of the partnership.

Each year’s partnership tax return needs to be submitted by the following 31 October if you are submitting it by paper copy or by the following 31 January if you are filing on-line.

So for example the 2025 Partnership Tax Return will cover the partnership’s income from 6 April 2025 to 5 April 2025 (ie it will include any year end within those dates).

This needs to be submitted by 31 October 2025 if it is a paper return or 31 January 2024 if you are filing online.

You will also need to nominate a partner to sign and approve the Partnership Tax Return.

Be careful to ensure that the Partnership’s tax return is submitted on time because he financial penalties for submitting it late are much greater than for personal tax returns.

If we are completing your partnership tax return for you, we will make sure that these are completed to meet all relevant deadlines.

Submitting your personal tax return

As well as a Partnership Tax Return you must also submit a personal tax return detailing your share of profits (or losses) from the partnership.

Each year’s tax return needs to be submitted by the following 31 October if you are submitting it by paper copy or by the following 31 January if you are filing on-line.

So for example your 2023 Tax Return will cover your income from 6 April 2024 to 5 April 2025. This needs to be submitted by 31 October 2025 if it is a paper return or 31 January 2026 if you are filing online.

If we are completing your tax returns for you, we will make sure that these are completed to meet all relevant deadlines.