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Since August 2016, I am working as a partner for a French

Resolved Question:

Hello,
Since August 2016, I am working as a partner for a French Law Firm based in France.
Living in London with my family, I work from London most of the time. For tax purpose, I am a UK resident.
What does being a partner imply in terms of tax and social insurance? Does this mean that I am self employed or is there some kind of specificity?
Do you know somebody specialised in tax issues related to expatriate in London?
Thanks in advance for your help
Nathalie
Submitted: 4 months ago.
Category: Tax
Expert:  bigduckontax replied 4 months ago.

Hello Natihalee I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

You are, as a partner, self employed, and should register with HMRC as such and submit a Form SA800 after every every year to declare your income.

On receipt of this form HMRC will advise you of an tax and National Insurance (NI) due on your earnings.

Those are the basics of your UK Income Tax (IT) liabilities. I do hope you find my reply useful.

Customer: replied 4 months ago.
Ok thanks.
Do you need anymore details?
Expert:  bigduckontax replied 4 months ago.

At this stage no.

Here is the guidance from the Gov UK web site on this subject:

'If the partnership is managed and controlled outside the UK, include only the partnership’s UK profit in the Partnership Tax Return.

The non-resident partners will put their share of the UK profit on their own tax returns. The UK resident partners will also put their share of the UK profit on their own tax returns. However, they’ll also be liable to tax on any overseas profits they share in. Where a partner is taxable on the normal basis, that is on the profits as they arise, they should include their share of the overseas profit on their own tax return. Where a partner is taxable on the remittance basis, they should show the appropriate remittances in theResidence, remittance basis etc pages of their tax return.

Strictly, a partnership with at least one UK resident partner liable to tax should return its worldwide profits. HM Revenue and Customs (HMRC) allows the Partnership Tax Return to include only UK profits in certain circumstances, as described above, but reserve the right to call for worldwide accounts and computations.'

bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3126
Experience: FCCA FCMA CGMA ACIS
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Expert:  bigduckontax replied 4 months ago.

Thank you for your support.

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