Partnership Tax Returns
A business that is operated as a Partnership must submit their tax returns using SA800 Partnership Tax Return forms. Returns must include all business income generated by the partnership and show each partner's share of the profits or losses. Returns can be submitted by a nominated partner or an appointed Tax advisor (Agent), Accountant, Bookkeeper or other professional. Partnership tax returns might also include other supplementary pages depending on the types of income the business has generated. Andica SA800 Partnership tax returns software can be used to complete all the necessary supplementary forms listed here:
- SA800 Partnership Tax Return form
- SA800(PS) Partnership Statement Full and Partnership Statement Short form
- SA800(TP) Partnership Trading and Professional Income form
- SA801 Partnership UK Property form
- SA802 Partnership Foreign form
- SA803 Partnership Disposal of Chargeable Assets form
- SA804 Partnership Savings, Investments and Other Income form
Partnership Tax Return form is the main form that must be completed by all businesses. SA800 form includes Trading and Professional income details which must be completed if, at any time during the tax year the partnership carried on a trade or profession. If the business has other types of income it may be necessary to submit forms SA801, SA802, SA803 and SA804.
While a nominated partner is responsible for filing or authorising the filing of partnership tax returns, the responsibility is not solely on the Nominated Partner, all partners are jointly liable for the accuracy of those tax returns. Where the returns are not submitted to the HM Revenue & Customs HMRC within the specified timescale, all partners are liable for any penalties, surcharges and interest.
Individuals partners whether they are active or 'sleeping' business partners, who share the profits or losses of the partnership, are effectively self employed and will need to submit an individual Self Assessment tax return form. Each partner is personally responsible for paying income tax and National Insurance Contribution (NIC) on their share of profits. Partners must be provided with an SA800(PS) Partnership Statement Full form or Partnership Statement Short form detailing their share of profits or losses. Individual partners can use this information to fill in the partnership supplementary pages SA104 Full or SA104 Short, these are available within our Andica Self Assessment Personal Software (SA100) which can be purchased separately.
Who can use Andica SA800 Partnership tax returns software?
A Nominated Partner within a Partnership business
A partner appointed as a "nominated partner" can use the software for preparation and online submission of partnership tax returns to the HMRC. You can purchase the software on CD or as a download and licenses are available for one partnership tax return or for preparation of multiple partnership returns.
Bookkeepers, Accountants, Tax advisors or Agents and other Professionals
If you are a Book-keeper, Accountant, tax advisor, tax agent or in any other professional capacity where you are providing services for preparation of SA800 Partnership tax returns for your clients, you can use the software. You will need to be registered with the HMRC and have your Agent's Gateway ID and Password. The software is available for multiple partnership bands of 1, 5, 10, 25, 50, 100 and unlimited tax returns. For practices requiring multiple users to access and share the data on their network, multi-user licenses are available, please contact us for prices.
