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Informal Partnership - ROS Tax Return

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  • 02-07-2023 11:36am
    #1
    Sarah1210
    Registered Users Posts: 1 ✭


    Hello, I would be very grateful if someone can offer some advice regarding myself and my fiances tax return. 


    We both started out a number of years back as self employed with different businesses, but for the past couple of years we have been essentially working as partners, providing the same service, but some customers are mine (and go through my books), some customers are his (and go through his books) and we both filed separate form 11's. 


    In 2022 we decided to become 'informal partners' (we were told we could do this) put all of the customers through the one bank account/set of books, and file a joint assessment. 


    We are both now a bit worried as we have no idea how to go about this regarding Ros, and feel that we should have notified the revenue sooner of this change.


    Any advice as to how we go about this would be greatly appreciated.

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    #2
    downtheroad
    Registered Users Posts: 2,842 ✭✭✭downtheroad


    Register the partnership with Revenue, establish a partnership agreement, file a Form1 for the partnership and then include your individual share of the partnership profits in your individual Form11s.



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