Before we can assist you with your partnership accounting, you must register your business partnership with HMRC, via their website or using the SA400 form. We can complete this step for you, to which you will then receive a Unique Tax Reference from HMRC and they will expect tax returns from you. When it comes to accounting partnerships, Total Tax Solutions have you covered.

Together, you and those you are partnered with will have to prepare your own tax return, and you will also need to declare any partnership profits on your own personal tax return. Therefore, if there are two individual partners within the partnership, there will be three necessary tax returns overall. Once these documents are completed, we at Total Tax Solutions can then prepare your end of year documents, as well as providing you with statutory accounts and all three tax returns so you don’t have stay complacent. Our experts can also keep you informed on when your tax and national insurance is due and how/ when to pay.