Set up a business partnership
Register the partnership
You must register your partnership for Self Assessment with HM Revenue and Customs (HMRC) if you’re the ‘nominated partner’. This means you’re responsible for sending the partnership tax return.
The other partners need to register separately.
Register a partner or partnership
All partners also need to send their own tax returns as individuals.
You must register by 5 October in your business’s second tax year, or you could be charged a penalty.
Example
If you started a partnership or became a partner during the 2023 to 2024 tax year, you must register before 5 October 2024.
Other ways to register
You can also register the partnership using form SA400 if you cannot register online. You can register as a partner using form SA401.
Registering for VAT
You must also register for VAT if your VAT taxable turnover is more than £90,000. You can choose to register if it’s below this, for example to reclaim VAT on business supplies.
You can appoint an agent to deal with HMRC on your behalf.