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Post Info TOPIC: Partnership expenses


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Partnership expenses
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Hi,

I am doing the accounts and self assessments for a partnership.  They are pub managers  They have sent me proof of earnings and also receipts for any purchases along with the takings etc from the bar and restaurant as they were paid on a commission basis.

There is not a great deal of paperwork but I was wondering if they would be able to claim the £4 per week for sorting out their paperwork on a weekly basis?

They have kept their records pretty well and seem to understand what is expected of them.

 

Elaine



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E Roscoe


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Hi Elaine. If they're living above the premises then it's likely that shared personal / trade utilities would be dealt with in the profit computation. I have though, known an exception when their was a requirement to live there for security purposes.

If their work was intermittent, and with you saying 'their isn't a great deal of paperwork', then I'd only claim the £4 p/w for those weeks they were working. I'm taking it they're like temporary or relief managers and don't live on site.

HTH,
Tim

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Hi Tim,

They were there for 52 weeks, so a full year and by not a lot of paperwork I was probably was comparing it to my day job. They did live on the premises so I am guessing they cannot claim the £4.00 as they were not paying any rent/mortgage.

Elaine

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E Roscoe


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Don't think so, no. The £4 is for extra expenses incurred because you do some of your work from home. I have a mental A-Z list of conceivable expenses. If there is little claimed in the books then some outgoings might turn up with prompting.

The arrangement seems more like an employment. Is it the case that they have little choice in the opening hours, goods sold, equipment used or where they work?

Do they pay anything domestically and are there any travelling expenses?

Regards,
Tim




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