Currently I have a partnership which is equally divided between myself and one other.
The partner has a joint bank account with his wife and he is trying to explore the possibility of defining her as a sleeping partner with 25% of the partnership - obviously to reduce tax as she currently just earns over 11k. All of this has come about as I’m about to complete 18/19 tax return.
I am highly inexperienced regarding such matters as our operation has been very simplistic and my knowledge stretches just as far as completing a partnership return and two individuals.
Would anyone be so kind to provide me with guidance / direction in tackling this matter? Or any other possible suggestions.