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Each partner in a business partnership must submit their own individual Self Assessment tax return. Partners can either submit their tax return online, or using a SA100 postal form. If submitting by post, they must include the supplementary page SA104.

Do I need to send a SA104 form if I do my Self Assessment online?

You only need to complete an SA104 form if you submit your Self Assessment tax return by post.

Why do HMRC need an SA104 form?

If you submit Self Assessment online, HMRC tailor your tax return to collect the relevant information from you. When you file your tax return using the paper form, partners in partnerships must include an SA104.

This is the section which deals with the income you earn as a partner in a partnership. If you’re a partner in multiple businesses, you’ll complete a separate section for each partnership.

The partnership itself submits a separate tax return. Each individual partner is responsible for paying their own income tax and National Insurance contributions.

 

accounting services for partnerships

Declaring profits and losses in a partnership

It’s the nominated partner’s responsibility to submit a Self Assessment return for the partnership itself. This should include the details of any profits, losses, or other gains and income.

The main partnership’s return also shows the distribution of profits and losses between the partners. This information must match what each partner includes on their own Self Assessment.

Partners in more than one partnership must submit partnership pages for each business.

Talk to an advisor about our online accountant packages for partnerships by calling 020 3355 4047, or get an instant tailored quote online.

About The Author

Elizabeth Hughes

A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible. Learn more about Elizabeth.

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