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    Slightly confused when filling out my Parents info, mums is fine cause shes employed. However, my dad is self-employed and on the form there's two boxes ' total taxable profit from businesses' (total profit you received from self-employment) and 'total taxable profit from partnerships' (total profit you received from partnerships).

    Do I only fill out one box? My dad is in a partnership with his brother (business is called Bedford Saw & Tool).Now, if I only fill out one box I'm assuming its the latter. The former sounds like its for like a sole business owner, like a decorator.

    The business turnover was like £70,000 or something, but a lot of that goes back into the business (stock). From that my dad gets like £28,000 a year. So basically do I just have to put £28,000 in the 'total taxable profit from partnership'?

    Also, my dad isn't self-assessed. The accountant apparently handles that.
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    (Original post by MidnightMist)
    Slightly confused when filling out my Parents info, mums is fine cause shes employed. However, my dad is self-employed and on the form there's two boxes ' total taxable profit from businesses' (total profit you received from self-employment) and 'total taxable profit from partnerships' (total profit you received from partnerships).

    Do I only fill out one box? My dad is in a partnership with his brother (business is called Bedford Saw & Tool).Now, if I only fill out one box I'm assuming its the latter. The former sounds like its for like a sole business owner, like a decorator.

    The business turnover was like £70,000 or something, but a lot of that goes back into the business (stock). From that my dad gets like £28,000 a year. So basically do I just have to put £28,000 in the 'total taxable profit from partnership'?

    Also, my dad isn't self-assessed. The accountant apparently handles that.
    The amounts should come directly from his tax return: see page 14 http://media.slc.co.uk/sfe/1617/ft/s...orm_1617_d.pdf
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    (Original post by MidnightMist)
    Slightly confused when filling out my Parents info, mums is fine cause shes employed. However, my dad is self-employed and on the form there's two boxes ' total taxable profit from businesses' (total profit you received from self-employment) and 'total taxable profit from partnerships' (total profit you received from partnerships).

    Do I only fill out one box? My dad is in a partnership with his brother (business is called Bedford Saw & Tool).Now, if I only fill out one box I'm assuming its the latter. The former sounds like its for like a sole business owner, like a decorator.

    The business turnover was like £70,000 or something, but a lot of that goes back into the business (stock). From that my dad gets like £28,000 a year. So basically do I just have to put £28,000 in the 'total taxable profit from partnership'?

    Also, my dad isn't self-assessed. The accountant apparently handles that.
    I'm in the same position as you, but both my parents are partnered so do I leave out the total taxable profits from businesses? What did you do
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    (Original post by Michaelj99)
    I'm in the same position as you, but both my parents are partnered so do I leave out the total taxable profits from businesses? What did you do
    I found out that you HAVE to use the figure on your parent(s) tax return form. Which was really goddamn annoying for me personally because my on my father's it said he gets like £41,000, when he only actually gets £28,000 of that cause the rest goes back into the business. So even though my real combined household income is £39,000, I had to put it down as £52,000 cause that is what it says on the documents sent to HM Revenue. I was so angry about it!!

    If your parents are in a partnership, then yes leave out the 'total taxable profits from businesses' and just fill in the partnership one
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    Hi ,
    I'm in same position as you , so does that mean we write down the profit he received from his self-employment ?
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    (Original post by mezlimbu)
    Hi ,
    I'm in same position as you , so does that mean we write down the profit he received from his self-employment ?
    No. As stated above, you take the total figure from his tax return, which will be much larger.
 
 
 
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