Partnership tax compliance can be complex, particularly where there are multiple partners, profit-sharing arrangements, or changes in the partnership during the year. Partnerships have distinct reporting obligations, separate from the personal tax affairs of the individual partners.
Outsourcing your partnership tax compliance gives you confidence that returns are accurate, compliant, and submitted on time — while reducing administrative burden and allowing partners to focus on running the business.
Our Outsourcing Team works closely with our tax specialists to deliver a joined-up partnership compliance service, tailored to how your partnership operates.
What Is a Partnership for Tax Purposes?
A partnership is a business carried on by two or more individuals (or entities) who share profits and losses. While the partnership itself does not pay income tax, it must submit annual partnership tax returns, with each partner reporting their share of profits on their personal tax return.
Partnerships must comply with tax reporting requirements with HMRC.
How We Support You
We can:
• Register new partnerships for tax
• Prepare and submit partnership tax returns
• Prepare partners’ profit allocation statements
• Support partners with Self Assessment reporting
• Advise on changes to partners or profit-sharing arrangements
• Review partnership accounts prepared by third parties
• Assist with partnership restructuring or cessation
• Manage HMRC correspondence, enquiries, and compliance checks
This flexible approach ensures you receive the right level of support, whether fully outsourced or working alongside your in-house finance function.
Partnership Reporting & Deadlines
Partnerships are subject to annual filing deadlines and ongoing compliance requirements.
We help partnerships to:
• Understand their reporting obligations
• Meet filing and payment deadlines
• Ensure accurate allocation of profits and losses
• Avoid penalties and late filing charges
• Keep partners informed of their tax responsibilities
Where required, we also coordinate partnership reporting alongside partners’ individual tax affairs for a streamlined process.
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