Registering a partnership

Registering a partnership

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I have been asked to act for a childminder who has been working together with another childminder for 4 months.  They have a joint bank account and all income and expenses go through that with a 50/50 split of profit.  My client was going to sort out registration of the partnership as the lead partner.  They have now decided to go their separate ways and the bank account will be closed at the end of the month.  The other partner is not willing to give her UTR number and other details to my client saying that she does not want to register as a partnership for the 4 months but just split the profit on the SA return.  Would it be acceptable to do the accounts for the 4 months and then enter 50% on the SA return as self employed income or should my client insist that the partnership is registered?

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By pawncob
26th Apr 2016 10:36

Practicalities

Regardless of the niceties, I'd include half the net profit for the four months in the individual return. It's all history now.

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