Partnership Registration

Partnership Registration

Our Partnership Registration is a bespoke service and is only available by contacting us at customerservices@primeformation.co.uk or calling us on 0333 533 0264.

A Partnership is said to exist where two or more persons come together for business purposes to form an association that is not a separate legal entity for taxation purposes.

Based on the nature of partnerships, individual partners must account for their tax liabilities separately and be assessed on tax as if they are self employed persons much like sole traders or proprietors. A partnership tax return must be completed on behalf of the partnership for an accounting period. Individual partners who receive their share of profits are subsequently taxed on same.

Agent Registration

Our Tax and Accounting Division-Prime Formations Partnership (a Firm of Qualified Accountants) would register your partnership and other partners online for self assessment purposes. Once you place an order, we would forward by email a Partnership Registration Questionnaire and Partners Self Assessment Questionnaire which covers every information required in completing the Partnership registration process. Once completed, HMRC would send you a letter with your Partnership UTR number and the UTR number for each partner if they are registering with HMRC for the first time.

HMRC may take up to 8-12 weeks to register the Partnership.

The cost of this service is £129.89 plus VAT for a maximum of 3 partners. An additional £39.89 plus VAT would be charged per additional partner registered with HMRC.

We have a dedicated line for any questions on the Partnership registration application process.

We would also provide step by step instructions on how to create your own Government Gateway Account should you require the same.

All Your Questions Answered

How to Register a Partnership?

You must register your Partnership by 5 October in the business’ second year. Therefore, if you started a Partnership during the 2021 to 2022 tax year you must register before 5 October 2022. There are penalties issued by HMRC where you fail to follow this requirement.

You must register every partner in the partnership. A nominated partner is responsible for filing tax returns, signing partnership tax returns, producing the accounts and other activities of the partnership. Partnerships can be made up of individuals, limited liability companies, trusts or LLPs.

To register your partnership, HMRC Form SA400 must be completed online or completed in paper and posted off to HMRC. The Form requires you to state the Name of the Partnership, the nature of the partnership whether an LLP, Limited Partnership or General Partnership. You would also need to state the nature of the trade to be conducted by the partnership and also provide basic information such as the address, trading address [if different], commencement date and the name and address of the nominated partner.

HMRC Form SA401 must be completed in like manner for each partner involved in the partnership to secure their registration for self assessment and Class 2 National Insurance contributions.

Form SA402 should be completed if the partner is an artificial person such as a limited liability company. If you are already registered for self assessment and later become involved in a partnership you would still be required to complete Form SA401.

Money Laundering Requirements-Proof of ID?

Accountants, Estate Agents, Solicitors and other professionals including Formation Agents such as ourselves are required by the law-The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 and previous Money Laundering Regulations to check proof of ID and Address. We carry out digital ID checks on our customers and most do not have to do anything else except complete the online formation forms. A very minute percentage of our customers may need to supply further information if they fail the digital ID tests or are not eligible for one.

£74.99

Order Process

1. Select a Service Package:

Start by browsing the product page to find the service package that best suits your needs. Once you’ve made your selection, click the “Add to Cart” button to include the package in your shopping cart.

2. View Cart & Checkout:

After adding the package to your cart, you can review your selections by clicking on the cart icon or the “View Cart” button. Here, you can modify the selected package if needed. Once you’re satisfied, click the “Proceed to Checkout” button.

3. Login/Create Account & Enter Details:

If you already have an account, log in using your existing credentials. If you’re a new customer, you can create an account or choose to continue as a guest. Next, enter your billing and shipping details to ensure accurate delivery and billing information.

4. Payment & Order Confirmation:

Choose your preferred payment method and enter the necessary payment information. Finally, click the “Place Order” button to complete your purchase. You’ll receive a confirmation message on the screen and an email with your order details.

Need Assistance?

If you have any questions about our products and services, please don't hesitate to contact the Prime Formations team. We're here to assist you with any inquiries you may have.