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Evan

  • Posts: 71
Partnership
« 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??
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Slacky

  • Posts: 8278
Re: Partnership
« Reply #1 on: March 27, 2020, 07:57:22 am »
Do you each submit separate self-employed figures at the end of the financial year?
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Evan

  • Posts: 71
Re: Partnership
« Reply #2 on: March 27, 2020, 08:07:20 am »
Yes we have individual self assessment then the partnership one so three in total
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Martin Lane

  • Posts: 169
Re: Partnership
« Reply #3 on: March 27, 2020, 08:51:42 am »
Should be on your self assessment, so at £30k you should be ok 
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