Est. 2007

©  2009  Intellectual Property of Mike Perry Bsc (Hons) - All rights Reserved :

Partnerships - Things you should be aware of - Key Information:.
The nominated partner has the responsibility to make sure that he/she completes the right supplementary Pages. He/she must send them back to us on time with the
rest of the Partnership Tax Return, otherwise each partner who was a member of the partnership during the Return period will be liable to an initial automatic penalty of
£100, and further penalties for continued delay.......The Partnership Tax Return should be completed and signed by:  
1) The partner nominated by the other partners who were members of the partnership during the Return period (or by us), or  
2) The partner named on the front of the form, or
3)  the manager of a European Economic Interest Grouping (EEIG) registered in Great Britain or Northern Ireland, or the member to whom the Partnership Tax Return is
    addressed for other EEIGs.
You will need information about the partnership's business, including any investments. Once the Tax Return has been processed it may be checked. HMRC have 12
months after they  receive it to do this. They may make enquiries about the figures and ask you to send the records from which you took them. HMRC may also check
the figures against any details received from other sources, such as your bank. If after sending us the Partnership Tax Return you find that you have made a mistake, or
any details have changed, then let HMRC know at once, otherwise you may be charged a penalty. You must provide final figures to replace any provisional amounts as
soon as you can. HMRC may also charge a penalty if there is an unreasonable delay in providing corrected figures once they are known to you, or the Partnership Tax
Return is incorrect because you have failed to take reasonable care.  This can amount to 30% to 100% of the difference. Prosecution can take place for deliberate errors.
All savings, investments and other income (taxed and untaxed) should be returned for the period 6 April 08 to 5 April 09, inclusive of Foreign income, UK property
and Chargeable Asset Disposal Proceeds. All types of partnership should return details for the period 6 April 08 to 5 April 09 unless directed otherwise by HMRC.