Irregular Payments: Self Assessment: Partnership payments
Note: No accounting information is held on SA partnership records. All the amounts due and paid by partners are only recorded on their individual SA records.
In DMB Banking
When you receive a partnership payment you need to split it between the individual partners and prepare a payslip for each partner. However, if you do not have the full details of the split and/or of the partners you should process as many of the individual payments as you can.
For example, if you have a partnership payment covering 10 partners and you have sufficient details to allocate 7 of them you should process the payments for partners for whom you have details. You should then create one transaction for the balance and send this to OAS. Once you have obtained the full allocation details for the remaining three partners you can transfer the appropriate amounts to the individual partner’s SA records.
In Local Offices
When you receive a partnership payment you should forward it to DMB Banking in an envelope clearly marked ‘Partnership SA payment’.
Where the partnership details of each customer are known you should use Print Payslip to prepare a payslip for each partner and quote the appropriate Unique Taxpayer Reference (UTR) number on each payslip.