Member Since: 17th Oct 2013
4th Aug 2021
I discussed this with a landlord client the other day. They said "so this won't cost me any more as it is a quarter of the work each time". My reply was: "If you pay £xx to visit the hairdresser once a year, and then decide to go 4 times a year , do you expect to pay only £xx, after all they will be cutting the same amount of hair over the year?"
29th Nov 2017
Surley you should just put the details of the 5% share to the "Salaried Partner" on the Partnership tax return as part of the allocation of profits between partners. (pages 6 & 7)
EG Partner 1 £50,000
Partner 2 £45,000
Salaried Partner £5,000
Total profit £100,000
The salary element is already within the accounts (Wages). The Salaried Partner then has a SA liability and pays the tax accordingly.
17th May 2016
So it's not just me then? There's not a box to tick that I've missed? I'm not going mad then, that's good. I just need to add the class 2 NIC liability onto what I tell the client to pay - simples!!!!!!!!
9th Jun 2015
Thanks, I have now done this and it appears to have worked. I will wait & see.
9th Jun 2015
I rang the helpline, but they said they couldn't open a scheme without the UTR. And this was the 1st time that they had heard of this as a problem...... REALLY!
Oh well looks like I will just have to process the wages and submit when I can eventually open a scheme.