A traditional partnership files an SA800 partnership return in addition to each partner’s own Self Assessment return. If the SA800 is filed late, HMRC charges every partner an automatic £100 penalty individually, not the partnership as a whole. A five partner business missing one deadline can face £500 in penalties from a single late return.
We prepare the partnership return, calculate each partner’s profit share under your partnership agreement, and file every partner’s own Self Assessment return alongside it. Clean bookkeeping throughout the year keeps this calculation accurate and fast at year end.
HMRC applies the £100 late filing penalty to every partner who was a member of the partnership during the return period, regardless of who was responsible for filing it. A partner who took no part in preparing the accounts still receives the same fine as the nominated partner who missed the deadline. This is exactly why one person managing the SA800 on a fixed timeline matters more in a partnership than almost any other structure. We prepare the partnership return with enough time for every partner’s individual return to follow it comfortably.
This service is for general partnerships based in or around Slough, and for each individual partner within them.
We prepare and file the partnership’s own return, reporting total income, expenses, and profit.
We calculate each partner’s share according to your partnership agreement.
We prepare and file each partner’s Self Assessment return, reflecting their share of the partnership profit.
Any HMRC query relating to the partnership return is handled directly by us.
31 October on paper, or 31 January if filed online, following the end of the tax year on 5 April.
HMRC charges every partner an automatic £100 penalty individually, regardless of who was responsible for filing.
No, a partnership is tax transparent. Each partner pays Income Tax individually on their share of the profit.
Yes, we can review your partnership agreement and prior filings and take over from wherever you currently stand.
Our team is part of Direct Assist Accountants' ACCA-regulated practice in Slough
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