Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Evan on March 27, 2020, 07:55:00 am

Title: Partnership
Post by: Evan on March 27, 2020, 07:55:00 am

Anybody know what happens if your in a 50/50 partnership and both individuals profit is 30k but together it’s 60k which one is counted for the 50k cut off??

Title: Re: Partnership
Post by: Slacky on March 27, 2020, 07:57:22 am

Do you each submit separate self-employed figures at the end of the financial year?

Title: Re: Partnership
Post by: Evan on March 27, 2020, 08:07:20 am

Yes we have individual self assessment then the partnership one so three in total

Title: Re: Partnership
Post by: Martin Lane on March 27, 2020, 08:51:42 am

Should be on your self assessment, so at £30k you should be ok