Self-Assessment for Partners & Partnerships
Running a business with someone else?
We’ll take care of the tax returns — for you and your partnership
If you’re running a partnership, we’ll make sure every part of the process is handled, from the accounts to each partner’s return.
Here’s how we do it, step by step:
Step 1
We Prepare the Partnership Accounts
We start by pulling together everything the partnership earned and spent during the year. This shows the full profit for the business, it’s the foundation for everything else.
Step 2
We File the Partnership Tax Return
Next, we complete the partnership’s Self-Assessment. This tells HMRC how much profit the partnership made, and confirms that a return has been submitted for the business.
Step 3
We Work Out Each Partner’s Share
We split the profits based on what’s agreed between the partners, 50/50, 60/40, or however it’s set up. We’ll make sure the numbers are fair, clear, and properly recorded.
Step 4
We File Each Partner’s Tax Return
Finally, we handle the Self-Assessment for each individual partner.
That includes their share of the partnership profit, and anything else they need to declare.
Why Partners Need to File
If you’re in a business partnership, HMRC usually expects two things:
A Self-Assessment tax return from you personally
A separate tax return for the partnership itself
Even though the business income is shared, your tax return needs to show your slice of it.
If you’re not sure what you need — just ask. We’ll let you know.
What We Handle for You
We’ll take care of everything that needs to be filed — for both the partnership and each partner involved.
Work out your share of the profits
File your personal Self-Assessment
Complete the partnership return (if needed)
Include any other income you’ve had (like rental, savings or freelance)
Give you a clear breakdown of what you owe and when to pay it
We handle the whole lot — and keep you in the loop without the jargon.
What You’ll Get
We’ll get the partnership accounts and tax returns done properly, for both the business and the partners
- A clear set of accounts that shows how the partnership performed
- Profit split calculated and explained for each partner
- Individual tax returns prepared based on each partner’s share
- Confidence that it’s all been done right and on time, without confusion
Frequently Asked Questions
FAQs
Do all partners need to file a personal tax return?
Yes — even if you only take part of the profits, HMRC needs to see your share.
What’s the difference between a partner and a shareholder?
Partners are part of a business that isn’t a limited company.
Shareholders own shares in a limited company — totally different tax setup.
Who files the partnership return?
Usually one nominated partner, but we can do it for you.
We’ll make sure it’s correct and filed on time.
Can you help if we’ve never filed one before?
Absolutely — we’ll explain what’s needed, get everything set up, and sort it from there.
Let’s Make It Easy
Running a business with one or more partners? We’ll sort the tax side for everyone — clearly, correctly, and without the stress.
From the partnership accounts to each individual return, we’ve got it covered.