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

Article ID: 826
Last updated: 05 Dec, 2018

If your SA800 partnership return shows a profit and a loss, you'll need to reallocate profits for all the partners. 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 of profits should occur, please see the link for HMRC's Partnership Tax Return Guide and open the guide to read pages 24–27.

Article ID: 826
Last updated: 05 Dec, 2018
Revision: 8
Views: 2007
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Also listed in
folder Tax Return Production -> SA800 Partnership Return