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Farm partnerships

GWhelan · 2019-03-13 18:31:26

How do you go about filing income tax fro partnership - will it be under a new tax number as both parties are registered for income tax already as they have other self employment income ..

13-03-2019 6:31pm

#1

GWhelan

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Join Date: March 2019

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How do you go about filing income tax fro partnership - will it be under a new tax number as both parties are registered for income tax already as they have other self employment income ..

0

Comments

#2 13-03-2019 8:40pm

Clareman

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I think this would be better suited in the Farming Forum than in Clare.

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#3 13-03-2019 10:12pm

ganmo

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The partnerships profit is split between as per the agreemebt and then added to each partner's income tax return

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#4 14-03-2019 11:11am

lakill Farm

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Each partner does a tax return (form11) under their PPS number
Partnership does a tax return also ( a different tax number just specific to the partnership) on a form 1

so 2 partners = 3 tax returns

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