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Jo Nockels ACCA MAAT - TaxAssist AccountantsJo Nockels is the Training and Communications Manager for TaxAssist Accountants who has been a practicing accountant and is a member of ACCA and AAT.

Jo is part of the team of experts that supports 220 TaxAssist Accountants offices across the UK. TaxAssist Accountants was set up 16 years ago to help small business owners and self employed individuals with their accounts and tax returns. We currently service over 40,000 small businesses and are the largest network of accountants in the UK.

Jo currently contributes to Startups.co.uk, Unbiased.co.uk, Inspiresme and The Huffington Post.

Send us your question: If you would like to have a tax question answered here, please send your question to taxquestions@taxassist.co.uk. We can't guarantee to respond to every question individually, but we will publish as many answers as we can here on the blog.

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Advice shared in this blog is intended to inform rather than advise. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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Thursday
Jan272011

How to Register a Partnership

DateThursday, January 27, 2011 at 9:00AM

Q: My business partner and I have decided to carry on trade as a partnership. What are the formalities in registering ourselves and the partnership with the tax authorities?

Mandeep, Peterborough

A: When you become self employed you should register with HMRC. There are three ways you can register these are either online, telephone or post.

Details on how to register online or telephone are on the HMRC website.

If registering by post, HMRC have issued new forms from 25 October 2010 to use for partners and partnerships.

Form SA400 should be completed on behalf of the partnership by the nominated partner and will enable HMRC to issue the partnership with a unique taxpayer reference (UTR) number. This number should be quoted on the partnership self assessment tax return.

Form SA401 should be completed by each partner and will enable HMRC to issue them with a UTR, if they do not already have one. This form will also register the partners for class 2 national insurance contributions.

If you need assistance on registering with HMRC or starting a business please contact your local TaxAssist Accountant.

We provide tax accountancy services in Peterborough and throughout the UK.  http://www.taxassist.co.uk 

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