startPartnership Tax
How To

Partnership Tax

CCH Personal Tax
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Partnership Tax

    • Creating /Editing Partners

      Create, Edit, Search for Existing Partner, Open an existing Partnership and/or Modify a Partner.

    • Add a New Partnership

      In the Partnership section, click "Click here to add a new partnership." Follow the wizard, click Finish, and the new partnership will appear under Partnership Name.

    • Add Taxed/Untaxed Income

      The term 'taxed income' refers to income where tax has been deducted at source, for example, dividends. The term 'untaxed income' is defined as non-trading income that is not taxed income, for example interest received gross.

    • Partnership Trading Income

      Use the Trading Income tab to enter details relating to income and losses. This section only provides an overview and you should refer to the Partnership pages within the tax return guide for a detailed explanation.

    • Add Property Income

      Within the Property income tab add profit or loss for UK land and property.

    • About Disposals of Chargeable Assets

      Use the Disposals of Chargeable Assets made by a partnership section to enter details of any assets disposed of by any of the partners.

    • Partnership statement - partner share allocation

      The Partnership Statement located within Tax Return Data of a partnership period.

    • How to Link the Partner Allocation Spreadsheets

      Select a partnership client, export the Partnership Statement to Excel, update it, then import back to the system to transfer figures to the statement.

    • Add Overlap Relief on Untaxed Investment Income

      Overlap relief is claimed when basis periods overlap. This results in the same profits being taxable in two different years. Overlap relief deducts the overlap profits in a later tax year, so that over the life of the business, the taxpayer does not pay more than the required tax on the profit earned.

    • Corporate and Non-resident Partners in a Partnership

      Corporate and Non-Resident Partners in a Partnership

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