Hello everyone, Im a newbie here so go easy on me lol!!
Ok so I have been qualified a few years and work in practice mainly doing small limited clients. Ive recently branched out doing some freelance work.
I have been approached by a "partnership" to do their tax and accounts for them, however, they have only ever filed individual tax returns to HMRC, which they prepared themselves without any professional help! They have been trading 2 or 3 years.
I dont think they have ever registered as a formal partnership - what is the correct proceedure here? - Do I inform HMRC and file backdated returns? Will I potentially open a can of worms for the client?
Reason I ask - I will be blunt - in my career Ive probably only dealt with one or two partnerships (they seem to be rare ?) and the rest was only covered in theory in my studies. And even then, I never did the tax returns - the partner in charge did them!
I just want to make sure I dont mess up this early in my career!!
Any advice appreciated thanks