The Partnership Statement is pages 6 and 7 of the SA800 Partnership Tax Return, also issued as form SA800(PS). It shows how the partnership's profit, loss, other income and tax deducted were shared between the partners for the period. Each partner receives a copy and copies their share onto the SA104 pages of their own tax return.
What it is
The SA800 reports the partnership’s results as a whole; the Partnership Statement allocates them. For each partner it records their name, address and UTR, the dates they joined or left, and their share of every figure the return has produced: trading profit or loss, the adjustments for tax, untaxed and taxed interest, dividends, property and foreign income, disposal proceeds, residential finance costs and tax deducted at source. The shares must add up to the partnership’s totals.
There are two versions. The short statement is for a partnership whose only income is trading or professional profit and interest or alternative finance receipts taxed at source. The full statement is needed when the partnership also has untaxed interest, property, foreign or other income, or disposal proceeds to allocate.
How partners use it
Each partner copies their share, box by box, to their SA104: the short statement to an SA104S and the full statement to an SA104F. Their share of profit is then taxed with the rest of their income and drives their Class 4 National Insurance. A partner’s share must match the statement, because HMRC compares the two returns.
In Tax Optimiser
The Partners step of the SA800 wizard builds the statement: add each partner, enter their profit share and the screen allocates every figure from the trading pages and the SA801 to SA804 supplementary pages. Each partner’s UTR is checked live and the allocations are checked against the return before it is filed.
Read more: the SA800 Partnership Statement: partners and profit shares.
