How To Register A Business Partnership With Hmrc

Choose a nominated partner.

How to register a business partnership with hmrc. Each partner has to be registered with hmrc for self assessment. To complete the process of setting up a business partnership you must. You can also register by post if you can t do this online. You can register with hmrc online here or by completing the paper form sa400 which you can access here. When the nominated partner registers the partnership they will automatically register themselves for self assessment.

Your partnership must also be registered for self assessment. Choose a unique business name avoid using a name used by another business. To set up as a partnership you should take the following steps. What you need to do. Register the partnership with hm revenue and customs registration at companies house is not required.

At some point hmrc may randomly register the partnership which in itself is a problem because the client may not realise this has happened. As a partnership you will not need to notify companies house nor deal with any administrative or accounting requirements which are required of limited companies. Most businesses register as a sole trader limited company or partnership. Hmrc use the information on the form to decide which tax returns need to be completed. Choose one of the partners to be the nominated partner.

Sole traders it s simpler to set up as a sole trader but you re personally responsible for your business s debts. The online service is the same for partners and partnerships here is a link. Other ways to register. Register with hm revenue and customs hmrc the nominated partner. You can register online with hrmc or download a form here.

To register a partnership use form sa400. You can also register the partnership using form sa400 if you cannot register online. You can register as a partner using form sa401. If you are going into business with a partner or partners and are setting up a partnership you must choose a nominated partner who is responsible for managing the partnership tax returns and business records. You must include all the partner s names and the business name on all official paperwork.