First year partnership tax return with long accounting period
SarahJS
Registered Posts: 273 Dedicated contributor 🦉
In the office we've got a new partnership with an accounting period of 15 May 2012 to 31 May 2013 (don't question the crazy AP!).
We've been discussing what figures should be shown on the partnership return for both 2012/13 and 2013/14 and we all seem to disagree.
The options discussed basically boil down to apportioning profits and stating no accounts available for the year.
What do you show on returns, any references to guidance would be great too.
Sarah
PS: We are all in agreement on the profits assessable on the partners for both years, just not what to show on the partnership return!
We've been discussing what figures should be shown on the partnership return for both 2012/13 and 2013/14 and we all seem to disagree.
The options discussed basically boil down to apportioning profits and stating no accounts available for the year.
What do you show on returns, any references to guidance would be great too.
Sarah
PS: We are all in agreement on the profits assessable on the partners for both years, just not what to show on the partnership return!
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