About this manual
This manual is primarily written for HMRC staff but customers and their professional advisers may also find it helpful.
The manual is designed to provide you with:
- a basic understanding of partnerships and how they are taxed in the UK,
- information about how the Self Assessment regime applies to partnerships, including registration and filing requirements, as well as compliance procedures,
- an overview of how the partnership profits are determined, including more detailed advice on commonly occurring issues,
- guidance on some of the more complex issues affecting partnerships, such as special rules that may apply to certain types of partnerships or to those with mixed membership or international aspects, and
- details of where you can find further guidance.
The manual is mainly focused on direct tax, particularly income and corporation tax, but it also provides an awareness of other tax obligations that you may come across when dealing with partnerships.
You will see that a partnership’s profits are taxed on the partners. In general, the partners are taxed in the same way as other businesses conducted by sole traders or companies, although special rules may apply. As such, guidance that applies to partnerships is published in other HMRC manuals. This manual does not seek to replicate that guidance but, rather, it aims to highlight some of the main issues and areas of complexity that are specific to partnerships and signpost where more detailed guidance can be found.
Comments on this guidance can be sent to the Partnership Manual mailbox