SALF501 - Income Tax Self Assessment for Partnerships
SALF502 Introduction
There are no partnership assessments under self
assessment
A partnership return is required to allow partnership
matters to be dealt with centrally
SALF503 Partnership returns
A partnership return is required to aid assessment of
the individual partners
Section 12AA(1) & (1A)
Information required in the tax return
Section 12AA(2) & (3)
Time limits for filing of the tax return accommodate
both individuals and companies
Time limits for individuals
Section 12AA(4)
Time limits for corporate partners
Section 12AA(5)
Time limits for mixed partnerships
Details of partners must be included in the tax
return
Section 12AA(6) & (10)
Details relating to the disposal of partnership
property must be included in the tax return
Section 12AA(7)
More than one tax computation may be required
Section 12AA(9)
Claims and elections
Section 42(6) & (7)
SALF504 Partnership statements
Partnership tax returns include a ‘partnership
statement’
Section 12AB(1)
The partnership tax return is subject to correction
by HMRC and amendment by the taxpayer
Sections 12ABA, 12ABB and 12AD
Error or mistake relief
Section 33A
Any corrections or amendments give rise to
adjustments to the partners’ tax returns
Sections 12ABA(3) and 12ABB(6)
SALF505 Requirement to keep records on which partnership tax return is based
Partnerships are required to make and keep
documents
Section 12B
SALF506 Sanctions against failure to file a tax return
Section 93A(1)
Fixed penalties
Section 93A(2)
Section 93A(4)
Appeals against the determination of a fixed
penalty
Section 93A(6) & (7)
Daily penalties in more substantial cases
Section 93A(3)
Section 93A(5)
Appeals against daily penalties
Section 93A(6)
Tax-geared penalties can only be determined on
individual partners
SALF507 Enquiries into partnership tax returns
The enquiry procedures apply to partnership tax
returns
Section 12AC
Section 12AC(1)
Section 12AC(2) & (3)
Any enquiry into a partnership statement
automatically extends to the partners’ own tax returns
Section 12AC(6)
Any matters relating to the enquiry are dealt with
through a nominated partner
Section 12AC(1)
SALF508 Power to call for documents
The formal procedures also apply to partnerships
Section 19A
Section 97AA
SALF509 Joint referrals to the Special Commissioners for a determination during an enquiry
SALF510 Settlement of an enquiry
Section 28B
Officer of the Board issues a formal enquiry closure
notice
Section 28B(1)(2) & (3)
Section 12AD
Right of appeal against HMRC amendment
Section 31(1)(b)
Application for direction that completion of enquiry
notice be issued
Section 28B(5)
Notice to amend each partner’s tax return
Section 28B(4)
Discovery and partnerships
Section 30B
Section 30B(1)
Section 31(1)(c)
Section 30B(2)
Section 29 and Section 36(1)
Section 30B(3) to (10)
Penalties for an incorrect partnership tax return
Section 95A
Section 95A(3)
