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Partnership tax return service

Self Assessment tax returns for partnerships

RR Accountants' software package facilitates your direct communication with a dedicated client manager and a Chartered Certified Accountant. Rely on RR Accountants to boost your productivity and profitability, backed by personalised support.

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Create & issue invoice
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Why Software and Service really works?

With you every step of the way
A partnership is a business which is owned and managed by more than one person. The partners are jointly responsible for all aspects of the business and will share the profits. Partnerships have a requirement to complete and submit a self-assessment tax return to HM Revenue and Customs (HMRC).
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Ensure you are as tax-efficient as possible
While running a business as a Sole Trader is straightforward, it may not be your most tax-efficient structure. We advise on how to set up and run a Limited Company.
RR Accountants will ensure you can claim every viable business expense to offset the tax you pay. Your RRA accounting costs can be offset against tax.
At £30,000 profit and above, it is almost certainly more tax efficient to start your own Limited Company. Ask for a free Tax Computation from your expert advisor.
If you have already chosen the Sole Trader product, do check with your Client Manager when will be the right time to upgrade to the Limited Company product so you can save on tax.
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Saving you time and money
Who we can help
We're here to happily support anyone who needs a hand with their accounting needs
File my tax return
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Connect your bank account
Create & issue invoice
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Affordable pay-monthly plans
Pricing plan
We believe everything should be easy, so we've built the most intuitive accounting software ever, with real experts at the touch of a button. All in one place.

Helping Sole-traders since 2010

We really are the experts.

ACCA & AAT qualified accountants

Our expert accountants follow the bylaws, regulations, and ethical guidelines of the ACCA.

Save time and money, we file on your behalf

We ask you a few questions to prepare all of the information for HMRC and then get filing.

Partnership Return

File from just

£150.00

+VAT

Included:

Self Assessment
Unlimited accountancy support
HMRC registration (UTR)
Dedicated client management
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Trusted accountancy SERVICES for over 5,000+ clients across the UK.
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5,000+
clients use RR Accountants for their accounting
14 Years
supporting individuals & small businesses
90%+
of our clients recommend us
Affiliations
Institute of Financial Accountants
What is a partnershiptax return?Flower
Partnership tax return
All partners are jointly responsible for the completion of the partnership tax return. The total partnership profits, losses and other income are allocated to the individual partners on the return according to their profit share entitlement.
There are two returns that must be completed for partnerships:
Individual tax return
Each partner is responsible for the completion of his or her own individual tax return. They must complete the partnership pages from the details entered into the partnership return.

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Frequently asked questions about

Partnership Tax

Who needs to file a partnership tax return?

All partners involved in business activities must file a partnership tax return. It's a legal requirement to ensure compliance with tax regulations and reporting obligations.

When is the deadline for filing a partnership tax return?

Partnerships and partners must report profits and losses to the IRS. The partnership tax return is due within 12 months after the end of the accounting period it covers.

What are the penalties for late filing or errors?

HMRC may penalise late filing, errors, or inaccuracies on partnership tax returns. Timely and accurate submission is crucial to avoid penalties. The IRS imposes a penalty of $220 per partner per month for late filing.

What taxes are payable by partnerships?

Partnerships in the UK are typically liable to pay income tax on their profits. Partners may also be individually liable for income tax on their share of partnership profits.

Can I claim expenses on my partnership tax return?

Yes, legitimate business expenses can be claimed on the partnership tax return, helping to reduce the taxable profit.

What records should I keep for my partnership tax return?

You should maintain records of all financial transactions, invoices, receipts, bank statements, and other relevant documents for at least six years.

Still have questions?

Speak to an expert
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Information Hub

Helpful Sole Trader resources

Looking for sole trader advice and guidance before paying for our service? We've got you covered.

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Seven reasons why you should file your Self Assess...
Filing early will mean you avoid the mid-January dread felt by many freelancers & contractors, and e...
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Ask an accountant
Just want your questions answered? Crunch Free users can pay a one-off fee of just £24.50+VAT
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Calculators
Check out our easy to use Tax calculators.
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Free Invoices
Save time on invoicing with our free invoice templates.
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Video
Your first time can be a bit stresselful, but don’t worry – Crunch's Jake Smith is here to demystify...
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What is Self Assessment? How to complete your Self...
New to contracting or freelancing? Struggling with filing your first Self Assessment? Our quick guid...
Claim partner offers when you sign up to RR Accountants
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1st Transfer
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10% offer
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£76 Cash
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Who We Are

It began with an idea.

Mr. Rashid set out to make accounting useful, with a focus on business plans and real-time and forward-looking data. And by using the data more intelligently (and combining it with some clever technology),

A firm was set up to provide everything entrepreneurs could ever need in one place.
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Features of our software

Get what you paid for RR Accountants back in a year through tax hacks, expert advice and more.
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Create Invoices & Get Paid
Our premium software lets you create and send invoices without hassling away. Besides, we help you set up payment reminders to ensure prompt and timely payments are made by customers.
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Managing Expenses
For your tax return, we assist you with easy tracking of business miles and convert them into expenses.
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Bank-Feeds
Get access to automatic import transactions from your bank accounts and credit cards, then categorise them accordingly.
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Inventory Management
Efficiently and effortlessly manage inventory, track levels of available and sold stock, and include product/service items in invoices.
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Reporting
Make use of our cutting edge tools to track daily transactions, maintain profitability record sheet, and access project-wise financial reports.
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Receipts Uploads
Get help in easily organising your record, be it receipts or statements, by uploading and attaching them directly to transactions.
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Discover stress-free bookkeeping with our innovative accounting software. Simplify receipt management with our free tool. Our intuitive mobile app makes bookkeeping fast and effortless—no more hassles, just convenience at your fingertips.

Services
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Software all in oneSoftware all in one

Whether you're just starting out, or optimising your business, we have the resources and networks to ensure your business achieves its growth potential.
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Service Features

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Year End Accounts
For smooth tax filing, salary calculation, and final accounts, get experts’ advice!
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Payroll
Strategize your payroll operations with a structured RR Accountants framework. From timely payments to full compliance, our expert accountants are capable of smoothly running each pay cycle.
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Bookkeeping
Our bookkeeping service is designed to handle your accounts, allowing you to dedicate your time to what you excel at: overseeing your business. The Certified Chartered Accountants are prepared to offer assistance whenever needed.
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VAT Submission
Easily submit and file your VAT return to HMRC with RR Accountants without enduring any stress. We process returns using MTD (Making Tax Digital) compliant software every quarter.
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Performance Reviews
Encounters with them happen just once a year, accompanied by a hefty bill that you dread each time—and no, we're not referring to the dentist. We're talking about outmoded accountants.
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RR Accountants One-to-One
Engage with our live video service, providing you the opportunity to converse with our client managers or accountants at a time that suits your schedule.
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Free Accounting Consultation
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Outsourced Finance Department
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UK Film Tax Relief
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Corporation Tax Filing
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Legal Support
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Virtual Office
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IR35
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Free Company Formation
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Accounting packages
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Bookkeeping
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Capital Gains Tax
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Add-ons
Discover seamless business management with RR Accountants. Delegate your tax, accounting, bookkeeping, and payroll responsibilities to us. Our clients refer us to those facing challenges and roadblocks along their journey. Are you unsatisfied with your current accountant? Embrace change!

Get a free accounting consultation

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