I have done the accounts and personal tax returns for a partnership that traded for 11 months and then the two partners became sole traders for one month, one with the existing business. The partnership have CIS tax dedecuted from their income. I have allocated this 50/50 per their oringinal agreement and they are both due a refund. It as then come to my attention with the confirmation of dissolvement that the partner who has left has 'no financial involement, responsibility or authority' and that and outstanding monies owed to the partnership be the full responsibility of the partner that has continued with the business. Would this include the CIS tax? Both the refunds are arriving to the agents bank account.
04th Feb 2013 09:45