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Commentary

19.6 Payment of the tax

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

19.6 Payment of the tax

| Commentary

19.6 Payment of the tax

An individual partner must include his share of the profits or losses of the partnership in the partnership pages of his own self-assessment tax return1. Where required to do so by an officer of the Board, the partnership is also under an obligation to submit a tax return of its income to HM Revenue and Customs2. Part of this return consists of the partnership statement3, which sets out the division of the partnership profits, losses and income between the various partners according to the profit-sharing ratio of the period of account. Only the figures shown

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