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Partners personal tax return

jiltjilt Font Of All KnowledgeRegistered Posts: 2,903
A director of a limited comapny is respeonsible for the fees for his own tax return. What about a partner, fees for the partnership accounts and tax return are allowable but is each partner responsible for paying the fees for their personal tax return?


  • groundygroundy Trusted Regular Registered Posts: 495
    I would say yes, but it depends on what you have agreed with the client at the start.
  • jiltjilt Font Of All Knowledge Registered Posts: 2,903
    Sorry maybe I didn't ask the question properly, what I mean't was does HMRC consider it an expense of the partnership or of the partner personally, is the cost of preparing the partner's personal tax return an allowable expense of the partnership?
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    I'd put it in the partnership. Presumably they have to complete personal tax returns because of their self employment (i.e. partnership) and therefore the concession of allowing accountants fees for self employed should apply.

    I would guess that normally accountants fees would be one fee for SA800 and 2x SA100s, billed to the partnership so you wouldn't show the cost for the SA100s separately anyway.
  • jiltjilt Font Of All Knowledge Registered Posts: 2,903
    Hmmm, I didn't include them last year and had been thinking maybe I should have, oops! Being too cautious there maybe. Thanks hun.
  • Gem7321Gem7321 Experienced Mentor DevonMAAT, AAT Licensed Accountant Posts: 1,438
    Preparation of personal tax returns is disallowable, every year at work we get an email about it to confirm as it has been allowable previously.

    http://www.hmrc.gov.uk/manuals/pimmanual/PIM2205.htm bottom of the page!
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