What are the potential issues with multiple agents

Multiple Agents Tax Return Query

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We have a new client who wants us to do his VAT, Accounts & Tax Return for his new sole trader business.

However, another accountancy business will continue to submit Partnership Tax Return [father & son] & their Partner Tax Returns (pages). For now anyway. 

The father is intending us to takeover but not just yet. He wants the son to join us now.

Since we only offer electronic submissions to HMRC now, what are the potential issues with two agents in this scenario.

Does anyone have any experience with this, know ing how our friends at HMRC handle or mishandle things

Replies (6)

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By bettybobbymeggie
28th Jul 2023 19:20

Hopefully I haven't misunderstood your query, but if you are submitting a partner's self assessment tax return then you will incorporate the partnership pages (typically SA104S) into that submission. The other accounting firm will submit the SA800 for the partnership itself and then provide you with the figures to enable you to complete the relevant boxes in the SA104.

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By Not Anonymous
28th Jul 2023 21:48

"However, another accountancy business will continue to submit Partnership Tax Return [father & son] & their Partner Tax Returns (pages). For now anyway"

You mean you will be filing his personal return online(?) with a known source of income missing and then the other accountancy business will file a paper partnership page to amend the return you have filed?

Seems a novel approach.

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By SXGuy
29th Jul 2023 10:04

If they are doing the partnership return then you will be held up waiting for the partnership figures before you can submit your clients self assessment.

Hopefully they are not January filing type firm. Personally I'd want the whole job or not at all.

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By rmillaree
29th Jul 2023 10:16

technically there should be zero issues - i dont see any authorisation issues whatsoever.
You dont act for partnership and other accountant doesnt act for your client.

The only crossover really is with regard to the partnership income details that the other accountant should furnish you with before submission (all partners must be given their income details so its pretty mandatory info) . I am sure you dont think the other accountant would submit a part of your clients tax return to hmrc - thats not how it works. They just advise you boxes that flow through from the partnership return and those boxes on your clients return will match whats on teh paretnership return they submit.

You should nromally point out that situation can potentially be sub optimal from any tax planning or other "anti avoidance" areas where not having full info for both businsses makes it hard for you to proactively plan tax. This can be a nightmare for you and your client if you get your clients partnership incoemlate in the day or and basics you would need to know are not flagged up - probably not a issue if the other party is on their way too as your post suggests.

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By Eighties Kid
29th Jul 2023 14:15

Rubbish, do you think a firm preparing accounts and returns for professional service partnerships are agents for all the partners?

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By 401K
04th Aug 2023 16:43

Thanks for the responses. I have met with the father and son. The issue is the existing firm is closing, money woes. So the hassle of dealing with or waiting on another firm passing sa104 info for the son is not an issue as SXGuy suggested and I suppose my real concern.
Lets see what happens.

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