Tax
Hi everyone, I hope someone can help to this one.
I have two small businesses as self employed and on both I pay taxes through HMRC website myself every year. I don't have a problem with that as It seems pretty straightforward. Last year I've registered a partnership. The partnership includes me and my wife. She helping me a lot with administration side of it(invoicing, logging details and now even marketing as business grows). But she never had any share of profit (in real terms she had) but not as registered self employed Individual. Also it would be more tax efficient thing to do to spread a profit across two of us. The question is: I've registered a partnership on Nov 2017. How I suppose to fill tax return for the year 2017 / 18? Do I have to declare taxes from Apr 2017 to Oct 2017 separately from Nov 2017 to Apr 2018. Because partnership accounting began in the middle of tax year, how I suppose to split? New invoices to customers with partnership UTR also started on November 2017.
Any help or advice appreciated.
Thanks
Igor
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch