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Step-by-step Guide

How do I allocate profit and loss between partners in my SA800 return?

Article ID: 826
Last updated: 30 Apr, 2022

If your SA800 partnership return shows a profit and a loss for different partners, you will need to reallocate profits for all the partners because the rules state you cannot have a mix of profit and loss to be distributed between partners. All partners need to have either a loss or a profit. Once you know the entries that need to go into the TaxCalc application, please browse to the below locations:

SimpleStep mode:

Partnership statement > Select the relevant Share of... screen and enter either the percentage split as per the partnership agreement or the profit/loss value.

HMRC Forms mode:

SA800 > Partner Management > Pages 6,7 > Complete the relevant entries on screen for each partner.

If you need some further guidance on how the allocation should occur, please see the links for

For allocation of Profit/(loss)

HMRC's Partnership Tax Return Guide and open the guide to read pages from heading Mixture of notional profits and losses (Page PTRG 27 - PTRG 30 for current year).

Article ID: 826
Last updated: 30 Apr, 2022
Revision: 11
Views: 4074
This article was:  

Also listed in
folder Tax Return Production -> SA800 Partnership Return