This is an advertisement
Interested In Advertising? | Contact Us Here

Warning!

 

Welcome to Clean It Up; the UK`s largest cleaning forum with over 34,000 members

 

Please login or register to post and reply to topics.      

 

Forgot your password? Click here

Pages: [1]

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??
Logged

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?
Logged

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
Logged

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 
Logged
Pages: [1]