A client has come to me with a husband and wife 2008/09 Partnership Tax Return that was submitted in January 2010 stating that profits of nil were provisional. HMRC did not raise an enquiry to hold the Return open. I have ascertained that there were small profits but these (and all other income) are covered by their personal allowances.
The 2008/09 personal Tax Returns have not yet been filed.
Do I amend the Partnership Return?
If so, how, as it is out of time?
If not, then should I show the zero profit on the personal Tax Returns or the amended profit amount which will of course not agree to the partnership tax return?
Any guidance would be very helpful. Thank you
