If you’ve ended or left a business partnership, you must tell HMRC that you’re cancelling your self-assessment & Class 2 national insurance registration.
You can do this by filling in an online form – you’ll need your government Gateway user ID and password to sign into the service or by phone or post – include the date you’ve ended or left the partnership.
The details are on gov.uk – search contact HMRC.
You must tell HMRC before the end of the tax year (that’s the 5th of April) that you’ve left or ended the Business Partnership.
Individual Partners must send us a self-assessment tax return by the 31st of January following the end of the tax year or they may have to pay a penalty. Remember to include the date you left the partnership in the partnership section of your individual tax return.
If the Business Partnership was sold or ended, the ‘nominated partner’ must send a final partnership tax return by the deadline.
In box 3.8 of the sa800 (partnership tax return) form, the nominated partner needs to include the date the partnership ended. The nominated partner must also include the date a partner left the partnership in box 9 of the sa800 partnership tax return.
If you’re registered within the construction industry scheme (CIS) and stop trading as a contractor or subcontractor, you must also notify the CIS helpline.
If you’re not sure or you think you might need to complete a tax return for another reason, check out HMRC’s page ‘check if you need to send self-assessment tax return’, which will help you decide.
