H howareya Registered User Messages 189 29 May 2006 #1 I am currently looking at the idea ofr entering a partnership with a friend. Just wondering how do you tax a partnership. Can one of us take a wage or is that like drawings???
I am currently looking at the idea ofr entering a partnership with a friend. Just wondering how do you tax a partnership. Can one of us take a wage or is that like drawings???
Brendan Burgess Founder Messages 53,710 29 May 2006 #2 The profits of the partnership are taxed as Case 1 income i.e. the same as the self employed. Your drawings are irrelevant and not subject to PAYE. Brendan
The profits of the partnership are taxed as Case 1 income i.e. the same as the self employed. Your drawings are irrelevant and not subject to PAYE. Brendan