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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4723
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Hi, I currently have an very small LLP and would like to

Customer Question

Hi,

I currently have an very small LLP and would like to know how the hell do I file my accounts.

I have just gotten a notice that they are overdue but I cannot seem to find the forms anywhere? what must I do to submit this? http://wck2.companieshouse.gov.uk//compdetails

Kind Regards,
Toan
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello Toan, I'm Keith and happy to help you with your question.

You file on line like any other corporate body. LLPs are an odd animal. They are separate corporate identities, but for tax purposes only are treated effectively as partnerships. You will have to go through the whole process of getting a Government Gateway access for the LLP to enable you to get into the system. Enter 'UK government gateway hmrc' into any search engine and up will come the instructions for registration etc. It's all a bit labourous, but once done is relatively simple.
Expert:  taxadvisor.uk replied 2 years ago.

Hello and welcome to the site. Thank you for your question.

I am sorry to say but online filing of accounts is not yet available for LLPs. You will have to file paper accounts.

I would like to refer you to Companies House page that confirms it and also like you to read tips to avoid rejection of paper accounts. The link is here

http://www.companieshouse.gov.uk/infoAndGuide/faq/accountsRejectReasons.shtml

Here is a checklist for completing annual accounts

http://www.companieshouse.gov.uk/infoAndGuide/faq/completeAAcc.shtml

Here is a link for accounting requirements for LLPs

http://www.companieshouse.gov.uk/about/gbhtml/gpllp2.shtml

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Expert:  bigduckontax replied 2 years ago.
Sorry Toan, I misread your question. You cannot file your LLP accounts on line for Companies House, you have to send A4 hard copies. I said LLPs were odd animals. Companies must file their tax returns on line and the Companies House accounts can be extracted and forwarded automatically as part of the process.

LLPs partners must file their tax returns individually, and this can usually be done on line.

Deep apologies for misreading your question and the possible confusion.
Expert:  taxadvisor.uk replied 2 years ago.

I know your question was relating to filing of LLP accounts with Companies House and not filing of tax return with HMRC.

The other expert gave you a wrong answer to your main question. Although not part of your question he has stated that LLP partners must file their tax returns individually. This again is an incomplete answer.

The complete answer is ..
The LLP should file a Partnership Tax Return. The Partnership Tax Return includes a ‘short’ Partnership Statement on pages 6 and 7 for summarising the profits, losses or income allocated to the partners. Fill in this or the ‘full’ unabridged Partnership Statement, as appropriate, and then provide each partner with the information they need to fill in their personal tax return.

More information on this can be found in Partnership Tax Return Guide here

http://www.hmrc.gov.uk/forms/sa850.pdf

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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