Form

Partnership (full) notes (2023)

Updated 6 April 2024

Use these notes to help you fill in the Partnership (full) pages of your tax return.

It will also help if you have a copy of the Partnership Tax Return, which includes a summary of your earnings on the Partnership Statement.

Complete a partnership page for each partnership of which you were a member and for each partnership business.

Where more than one partnership statement is received from the same partnership, you must report each partnership statement on a separate partnership page.

Changing between self-employment and partnership

Do not fill in boxes 3 and 4 if you changed from self-employment to partnership, or partnership to self-employment between 6 April 2022 and 5 April 2023.

If any part of the accounting period is within your basis period, to work out your profit or loss fill in the Partnership (full) pages using:

• details from the Partnership Statement
• boxes 9 to 32 in the Self-employment (short) pages or boxes 15 to 76 in the Self-employment (full) pages

If no part of the accounting period is within your basis period, do not fill in the Partnership pages.

Your name and Unique Taxpayer Reference

If you printed a copy of the Partnership (full) pages from the website, fill in your full name and Unique Taxpayer Reference (UTR) in the boxes at the top of the form. You’ll find your UTR on the Partnership Statement.

Example of completed name and UTR boxes

Your name	Your Unique Taxpayer Reference
Paul Smith	18579 24680

Partnership details

Box 1: Partnership reference number

Put the tax reference number of the partnership in the box. If you’re a partner in a foreign partnership, put your own UTR in box 1.

Box 3: If you became a partner after 5 April 2022, enter the date you joined the partnership

If you became a partner between 6 April 2022 and 5 April 2023, enter the date you joined in box 3.

If you’ve not already registered as a partner for Self-Assessment and Class 2 National Insurance contributions (NICs), you must do so now.

See HMRC’s Register for Self Assessment for more information.

Box 4: If you left the partnership after 5 April 2022 and before 6 April 2023, enter the date you left

If you stopped being a partner before 6 April 2023, enter the date in box 4. Tell us the date as soon as possible so you do not pay too much tax or Class 2 NICs.

See HMRC’s Stop being self-employed for more information.

Box 5: Cash basis

Enter X in box 5 if the partnership used cash basis to work out its trading profit or loss for the 2022 to 2023 tax year. If yes, there will be X in box 3.9 of the Partnership Tax Return.

See HMRC’s Cash basis for more information.

Your share of the partnership’s trading or professional profits

Boxes 6 and 7: Basis period

You pay tax on the profits of your basis period for the tax year. When you’ve been in business for a couple of years, your basis period is usually the same as the 12 month accounting period.

Starting in business

If your business began between 6 April 2022 and 5 April 2023 Your basis period begins on the date you started in business and ends on 5 April 2023.

If your business began between 6 April 2021 and 5 April 2022

If the accounting date in the period 6 April 2022 to 5 April 2023 is:

• 12 months or more after the date your business began, your basis period is the 12 months to that accounting date
• less than 12 months after the date you started in business, your basis period is the 12 months beginning on the date you started

If there’s no accounting date in the period 6 April 2022 to 5 April 2023, your basis period is 6 April 2022 to 5 April 2023.

Ceasing in Business

If your business ended between 6 April 2022 and 5 April 2023

Your basis period begins on the day after your basis period for the 2021 to 2022 tax year ended (or the date you started in business in the 2022 to 2023 tax year), and ends on the day your business ended.

See HMRC’s How to calculate your taxable profits (Self Assessment helpsheet HS222) for more information.

Boxes 8 and 9: Your share of the partnership’s profit or loss and the basis period adjustment

If your basis period is the same as the partnership’s accounting period, copy the figure from box 11 or 12 on your Partnership Statement and put it in box 8. If you made a loss, put a minus sign in the shaded box in front of your figure. Do not fill in box 9.

If your basis period is not the same as the partnership’s accounting period, you’ll need to work out the profit or loss for the 2022 to 2023 tax year. Copy the figure from box 11 or 12 on your Partnership Statement and put it in box 8. You’ll also need to put the adjustment in box 9.

If you’re disputing your share of the partnership’s profit or loss, still copy it to box 8 and make a referral to the Tribunal Service to determine the definitive figure to be used. You must also tell both the nominated partner (the partner nominated by the partnership to submit the partnership return) and HMRC that you’ve made this application to the tribunal.

Before making a referral to the Tribunal Service, HMRC recommend that you contact the nominated partner responsible for completing the partnership statement to try to resolve the issue.

Example

James and Sue have been partners for 5 years and prepare their partnership accounts to 30 September each year.

Amir joined the partnership on 1 July 2022. His share of the partnership profit is:

• period to 30 September 2022: £15,000
• year ended 30 September 2023: £60,000

Amir’s basis period for the 2022 to 2023 tax year is 1 July 2022 to 5 April 2023. He works out his profits as follows:

• 1 July 2022 to 30 September 2022: £15,000
• 1 October 2022 to 5 April 2023
  6 ÷ 12 × £60,000 = £30,000

Amir will put £15,000 in box 8 and £30,000 in box 9.

If you include provisional figures, put X in box 20 on page TR 8 of your tax return and tell us in Any other information on page TR 7, why you’ve used provisional amounts and when you expect to give us the final figures.

See HMRC’s How to calculate your taxable profits (Self Assessment helpsheet HS222) for help in working out your taxable profits.

Box 10: Adjustment for change of accounting practice

Copy the figure from box 11A on the Partnership Statement. An adjustment on leaving cash basis is spread over 6 tax years — one sixth of the adjustment income is charged to tax each year. You can elect to accelerate the tax charge on this adjustment income.

Box 11: Averaging adjustment

If your averaging claim changes your profit, put the amount of the change in box 11. If the claim reduces your taxable profit, put a minus sign in the shaded box.

See HMRC’s Check reliefs and rules for farmers and market gardeners (Self Assessment helpsheet HS224)) for information on farmers and market gardenders.

See HMRC’s Averaging for creators of literary or artistic works (Self Assessment helpsheet HS234) for information on averaging for creators of literary or artistic works.

Box 12: Foreign tax claimed as a deduction

You can claim for the foreign tax you’ve already paid on your income as long as you’re not claiming Foreign Tax Credit Relief. You cannot claim both.

See HMRC’s Relief for foreign tax paid (Self Assessment helpsheet HS263) for more information.

Box 13: Overlap relief used this year

You can claim overlap relief if you have overlap profits and in the 2022 to 2023 tax year:

• you stopped being a partner
• the partnership was sold or closed down
• the partnership’s accounting date changed and your basis period is more than 12 months

See HMRC’s How to calculate your taxable profits (Self Assessment helpsheet HS222) for more information.

Box 14: Overlap profit carried forward

This is any overlap profit you have from earlier years plus any new overlap profits in the 2022 to 2023 tax year, minus any relief you used this year.

Box 16: Adjusted profit for 2022 to 2023

Use working sheet for 16, 18, 20, 21 and 40 (2023 notes) to work out your adjusted profit. If you’ve made a loss, put 0 in box 16 and put the amount of the loss in box 21.

Box 17: Losses brought forward from earlier years set off against this year’s profit

If you made a loss in the 2021 to 2022 or earlier tax years that you’ve not used, put the amount in box 17. This must not be more than the amount in box 16.

Box 18: Taxable profits after losses brought forward

Use working sheet for 16, 18, 20, 21 and 40 (2023 notes) to work out the taxable profit. If you had a profit, put the figure from box K in box 18.

Box 19: Any other business income not included in the partnership accounts

This is income that has been paid to you, not the partnership, such as professional income received in a personal capacity. This may include coronavirus support payments received as an individual, such as a self-isolation support scheme payment.

See HMRC’s Reporting coronavirus (COVID-19) grants and support payments for more information.

Box 20: Your share of the total taxable profits from the partnership’s business for 2022 to 2023.

Use working sheet for 16, 18, 20, 21 and 40 (2023 notes) to work out your share of the total taxable profit. If you had a profit, put the figure from box M in box 20.

Your share of the partnership’s trading or professional losses

You may be able to claim tax relief for your share of any partnership losses. The amount of tax relief you can claim against your income may be restricted or limited.

If you’ve already made a claim for your loss in the 2022 to 2023 tax year, include the loss in boxes 22 to 24 and give us the details in Any other information on page TR 7 of your tax return.

See HMRC’s Relief for trading losses (Self Assessment helpsheet HS227) for more information on working out your losses.

See HMRC’s Limit on Income Tax reliefs (Self Assessment helpsheet HS204)for more information on the limit on Income Tax reliefs.

Box 21: Adjusted loss for 2022 to 2023

Use working sheet for 16, 18, 20, 21 and 40 (2023 notes) to work out if you had an adjusted loss for the 2022 to 2023 tax year.

Box 22: Loss from this tax year set off against other income for 2022 to 2023

Put any loss for this tax year that you want to use against income for this tax year in box 22.

If the loss is more than your income (or your income is nil), put your income amount (or nil) in box 22. You can claim the balance of your loss against any capital gains for the 2022 to 2023 tax year. Do not fill in this box if you use cash basis.

Box 23: Loss to be carried back to previous years and set off against income (or capital gains) You can carry losses back to use against:

• income (or capital gains) of the 2021 to 2022 tax year — do not make this claim if you use cash basis
• income of the 3 previous tax years (start with the earliest year) but you can only make this claim if your business began after 5 April 2019 and do not make this claim if you use cash basis
• profits of this business in the 2022 to 2023 tax year and 3 previous tax years (start with the latest year — only make this claim if your business ceased in the 2022 to 2023 tax year) your claim is for the losses in the final 12 months of the business (terminal loss relief)

You’ll also need to give us details of the amount claimed for each year in Any other information on page TR 7 of your tax return.

If you use cash basis, you can only claim for terminal loss relief. The time limit for claiming is 31 January 2025.

See HMRC’s HS227 Losses (2022) for more information.

Box 24: Total loss to carry forward after all other set-offs

You can carry any unused loss forward to set against any future profits from the same business. If you had any losses from earlier years that you’ve not already used up, include them in box 24. The time limit for claiming is 5 April 2027.

Class 2 and Class 4 National Insurance contributions (NICs)

Box 25: If your total profits for 2022 to 2023 are less than £6,725, and you choose to pay Class 2 NICs voluntarily, put X in the box

If your taxable profits are less than £6,725 or you made a loss, you can choose to pay Class 2 NICs voluntarily to protect your entitlement to State Pension and certain benefits.

If your taxable profits are from £6,725 to £11,908 you will not need to pay Class 2 NICs — your contributions are treated as having been paid to protect your entitlement to State Pension and certain benefits.

If your taxable profits are more than £11,908 you must pay Class 2 NICs (£3.15 a week).

You must already be registered as a partner for Self Assessment and Class 2 NICs to do this. If you’re registered for Self Assessment but not as self-employed go to HMRC’s Register for Self Assessment.

If you’re employed and self-employed, you may be able to pay a lower amount of Class 2 NICs depending on the amount of Class 1 National Insurance you pay from your wages.

See HMRC’s National Insurance: introduction for more information.

Put X in box 25 if you want to pay Class 2 NICs voluntarily. If you fill in more than one Partnership page, you only need to do this once.

You cannot pay Class 2 NICs voluntarily through Self Assessment after 31 January 2024.

See HMRC’s Voluntary National Insurance for more information.

Box 26: If you are exempt from paying Class 4 NICs

You do not have to pay Class 4 NICs if you:

• reached state pension age on or before 6 April 2022
• were aged under 16 on 6 April 2022
• were not resident in the UK for tax purposes during the 2022 to 2023 tax year

Only put X in box 26 if you’re exempt.

See HMRC’s Check your State Pension age for more information.

Box 27: Adjustment to profits chargeable to Class 4 NICs

Some adjustments can reduce the amount of Class 4 National Insurance contributions you have to pay. Put in box 27 the amount of:

• any adjustments for changes in accounting practice
• certain losses from earlier years
• any employment earnings included in your profits
• income which is disregarded for Class 4 NICs purposes, such as receipt of self-isolation support payments due to coronavirus

See HMRC’s More than one business (Self Assessment helpsheet HS220) for more information on Class 4 NICs adjustments.

See HMRC’s How to report self isolation support payments) for more information on self isolation support.

Your share of the partnership’s untaxed income

If the partnership carried on a trade or profession, the basis period for any untaxed income will be the same as boxes 6 and 7. You may have to make an adjustment — similar to box 9 — to convert your share of the partnership income into taxable profit for your basis period.

If the partnership carried on a pure investment business, the basis period is from 6 April 2022 to 5 April 2023. You’ll not have to adjust the basis period.

Untaxed savings income

Boxes 28 and 29

Copy the figure from box 13 on your Partnership Statement and put it in box 28. Work out your share of UK untaxed savings for your basis period using the same adjustment you used for box 9. Put the amount in box 29. If you made a loss, put a minus sign in the shaded box in front of your figure.

See HMRC’s How to calculate your taxable profits (Self Assessment helpsheet HS222) for help in working out adjustments.

Boxes 31 and 32

Copy the figure from box 14 on your Partnership Statement and put it in box 31.

Work out your share of foreign untaxed savings for your basis period using the same adjustment you used for box 9. Put the amount in box 32. If you made a loss, put a minus sign in the shaded box.

Box 33: Total foreign tax taken off

You can claim for the foreign tax you’ve already paid on your income as long as you’re not claiming Foreign Tax Credit Relief. You cannot claim both.

Box 34: Adjusted foreign savings income for basis period

In box 34, put the amount of your share of the partnership’s income from foreign savings. Add boxes 31 and 32 together, minus box 33.

See HMRC’s Relief for foreign tax paid (Self Assessment helpsheet HS263) for more information.

Income from UK property

This includes income from land or property that the partnership owns or rents out. Do not include furnished holiday lettings.

Boxes 36 and 37

Copy the figure from box 19 on your Partnership Statement and put it in box 36. If the figure is in brackets, the partnership made a loss.

Work out your share of the profit or loss for your basis period using the same adjustment you used for box 9. Put the amount in box 37. If you made a loss, put a minus sign in the shaded box in front of your figure.

Box 38: Losses brought forward from earlier years set off against profits

You can carry your loss forward to set against any future profits. If you had any losses from earlier years that you’ve not already used, put them in box 38. This must not be more than the total amount of boxes 36 and 37.

Box 39: Loss set off against 2022 to 2023 total income

You can only set off a loss for this tax year against your income if the loss:

• on your rental business is from agricultural expenses
• is from certain claims to capital allowances

The amount of tax relief you claim against your income each year is limited. Put the total amount you want to set off, including any loss brought forward from last year that relates to agricultural expenses or capital allowances, in box 39.

See HMRC’s Limit on Income Tax reliefs (Self Assessment helpsheet HS204) for more information on the limit on Income Tax reliefs.

See HMRC’s Agricultural land loss relief (Self Assessment helpsheet HS251) for more information on agricultural land.

Box 40: Loss to be carried forward after any set-offs

Use working sheet for 16, 18, 20, 21 and 40 (2023 notes) to work out the amount of total losses to carry forward. Put the total figure in box 40.

Box 41: Taxable profit after adjustment and losses

Add boxes 36 and 37 together. If the total is more than the figure in box 38 or zero, put the difference in box 41.

Box 41.1: Residential property finance costs

Copy the figure from box 26 on your Partnership Statement and put it in box 41.1.

Box 41.2: Unused residential property finance costs brought forward

Put any unused residential property finance costs from this property business from earlier years in box 41.2.

Any balance of the residential finance costs which is still unrelieved, may be carried forward to future years of the same property business.

See HMRC’s Tax relief for residential landlords: how it’s worked out for more information about residential property finance costs.

Furnished holiday lettings

Boxes 42 and 43

Copy the figure from box 20 on your Partnership Statement and put it in box 42. Work out your share of furnished holiday lettings profit for your basis period using the same adjustment you used for box 9. Put the amount in box 43. If you had any loss in box 36, you can set it against furnished holiday lettings up to the level of the furnished holiday lettings profit. Deduct this amount before you put a total in box 43. If you made a loss, put a minus sign in the shaded box.

Other untaxed UK income

Boxes 45 and 46

Copy the figure from box 15 on your Partnership Statement and put it in box 45. Work out your share of other untaxed UK income for your basis period using the same adjustment you used for box 9. Put the amount in box 46.
If you made a loss, put a minus sign in the shaded box in front of your figure.

Box 47: Losses brought forward from earlier years set off against income

You can carry your loss forward to set against any future profits. If you had any losses from earlier years that you’ve not already used, put them in box 47. This must not be more than the total amount of boxes 45 and 46.

Box 48: Taxable profit

Add boxes 45 and 46 together. If the total is more than the figure in box 47, you have a profit and should put the difference in box 48.

Boxes 49 and 50

Copy the figure from box 16 on your Partnership Statement and put it in box 49.

Work out your share of loss from other untaxed UK income for your basis period using the same adjustment you used for box 9. Put the amount in box 50. If you made a loss, put a minus sign in the shaded box.

Box 51: Total loss to carry forward after all other set-offs

You can carry your loss forward to set against any future profits. If you had any losses from earlier years that you’ve not already used, include them in box 51.

Income from offshore funds

Boxes 52 and 53

Copy the figure from box 18 on your Partnership Statement and put it in box 52. Work out your share of income for your basis period using the same adjustment you used for box 9. Put the amount in box 53. If you made a loss put a minus sign in the shaded box.

Box 54: Total foreign tax taken off

You can claim for the foreign tax you’ve already paid on your income as long as you’re not claiming Foreign Tax Credit Relief. You cannot claim both.

Box 55: Taxable income after adjustments for basis period and foreign tax

Add boxes 52 and 53 together. If the total is more than the figure in box 54, put the difference in box 55.

Other untaxed foreign income

Boxes 56 and 57

Copy the figure from box 17 on your Partnership Statement and put it in box 56. Work out your share of other untaxed foreign income for your basis period using the same adjustment you used for box 9. Put the amount in box 57. If you made a loss, put a minus sign in the shaded box.

Box 58: Losses brought forward from earlier years set off against income

You can carry your loss forward to set against any future profits. If you had any losses from earlier years that you’ve not already used, include them in box 58.

Box 59: Total foreign tax taken off

You can claim for the foreign tax you’ve already paid on your income as long as you’re not claiming Foreign Tax Credit Relief. You cannot claim both.

See HMRC’s Relief for foreign tax paid (Self Assessment helpsheet HS263) for more information on Foreign Tax Credit Relief.

Box 60: Taxable profit

Add boxes 56 and 57 together, then deduct boxes 58 and 59. Put the total in box 60.

Boxes 61 and 62

Copy the figure from box 21 on your Partnership Statement and put it in box 61.

Work out your share of loss from other untaxed foreign income for your basis period using the same adjustment you used for box 9. Put the amount in box 62. If you made a loss, put a minus sign in the shaded box.

Box 63: Total loss to carry forward after all other set-offs

You can carry your loss forward to set against any future profits. If you had any losses from earlier years that you’ve not already used, include them in box 63.

Box 63.1: Residential property finance costs

Copy the figure from box 27 on your Partnership Statement and put it in box 63.1.

Box 63.2: Unused residential property finance costs brought forward

Put any unused residential property finance costs from this property business from earlier years in box 63.2.

Any balance of the residential finance costs which is still unrelieved, may be carried forward to future years of the same property business.

See HMRC’s Tax relief for residential landlords: how it’s worked out for more information about the residential property finance costs restriction

Total untaxed income

Box 64: Untaxed income (other than savings income)

Add up your taxable profits carefully (boxes 41, 44, 48, 55 and 60) and put the total in box 64.

Box 65: Overlap relief used this year

You can claim overlap relief if you have overlap profits and in the 2022 to 2023 tax year:

• you stopped being a partner
• the partnership was sold or closed down
• the partnership’s accounting date changed and your basis period is now more than 12 months

See HMRC’s How to calculate your taxable profits (Self Assessment helpsheet HS222) for more information.

Box 66: Overlap profit carried forward

This is any overlap profit you have from earlier years plus any new overlap profits in the 2022 to 2023 tax year, minus any relief you used this year.

Your share of the partnership’s taxed income and dividend income

Boxes 68 and 69

Copy the figure from box 14A or 22A on your Partnership Statement and put it in box 68.

If you’re not claiming Foreign Tax Credit Relief, you can claim in box 69 the foreign tax you’ve already paid.

Boxes 71 and 72

Copy the figure from box 22 on your Partnership Statement and put it in box 71.

If you’re not claiming Foreign Tax Credit Relief, you can claim in box 72 the foreign tax you’ve already paid on your income taxable at 20%.

Boxes 74 and 75

Copy the figure from box 23 on your Partnership Statement and put it in box 74.

If you’re not claiming Foreign Tax Credit Relief, you can claim in box 75 the foreign tax you’ve already paid on your share of other taxed income. Your share of the partnership’s tax paid and deductions

Box 77: Share of Income Tax taken off partnership income

This is any Income Tax deducted at source. Copy the figure from box 25 on your Partnership Statement.

Boxes 78 and 79

Use your Partnership Statement and copy the:

• box 24 figure to box 78
• box 24A figure to box 79

Box 80: Share of total tax taken off

Add up your share of tax taken off boxes 77 to 79 carefully and put the total in box 80.