Partnership Tax Return - Year One

[loans18]

Hello all,

I’d greatly appreciate any info on the following query.

Myself and my business partner both registered ourselves and our partnership for self-assessment this year. Our partnership only became active in May 2019. The partnership start date is also in May 2019 and we dont have any other income relating to the financial year in question.

Will we need to send anything as a return by the October 31st deadline this year, or are we all fine to wait until next year?

I’m not sure if I need to send a personal and partnership return that is ‘zeroed’, as obviously we didn’t do any trading in the financial year in question.

Thanks very much.

[jerome.lane]

If first registered in May 2019, your first partnership tax return will be for the 2019/20 tax year and due by 31 October 2020 if filing on paper or 31 January 2021 if filed electronically.
You should have HMRC correspondence detailing the filing due dates for both yourselves and the partnership.

[Jholm]

I say this in the nicest way possible..... Given your misunderstanding of basic principles, please please please appoint someone to deal with the partnership and personal tax returns and do not do it yourself.