Partnership tax return - dispute 2 years after dissolution

Partnership tax return - dispute 2 years after dissolution

Postby GP46 on Wed Oct 19, 2011 12:40 pm

Hi there,

I've been a lurker on here for a few years, but just joined so please be kind :)

I'd like to ask opinion on my current situation:

The partnership (myself and one other) dissolved nearly 2 years ago. It was a pretty bad situation as I discovered my partner had a criminal record and had been acting in an increasingly dubious fashion which lead to me closing the business completely. They blocked my every effort to dissolve the business and refund our customers and have been quite unpleasant to deal with since.
Winding up took 12 months and a 50/50 settlement was agreed once winding up was complete. I have always taken care of accounts and the books so I was nominated as the responsible person for this task and have always taken care of the tax return etc.

The only task which remains is to submit the final partnership return. Unfortunately there has now been some dispute between the other partner and myself and they have contested the original settlement amount after our accountant sent them some figures which turned out to be inaccurate (they have since rectified this and sent out the correct figures). Now the other partner is not answering email etc as I've tried to open communication to settle the matter.

I'm worried they will not consent to the partnership final return and thus my accountant will be unable to submit it. What is the best way to move it forward? As the nominated partner I could submit the return anyway - would this lead to problems later on?

Many thanks in advance for your help at a difficult time.
GP46
 
Posts: 2
Joined: Wed Oct 19, 2011 12:16 pm

Re: Partnership tax return - dispute 2 years after dissolution

Postby towat on Wed Oct 19, 2011 12:49 pm

Only one partner needs to sign the return and liabilities are joint and several, I would be more worried about your ex-partner not paying his share of the partnership tax. In your situation I would just submit the return as it is and let him argue the toss with HMRC.
towat
 
Posts: 110
Joined: Thu Nov 04, 2010 11:31 am

Re: Partnership tax return - dispute 2 years after dissolution

Postby GP46 on Wed Oct 19, 2011 1:04 pm

Thanks for your input - I did notice that there is only one signatory on SA800.
I have until Jan31st technically - I just want to finalise everything and get on with my life!
GP46
 
Posts: 2
Joined: Wed Oct 19, 2011 12:16 pm


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