UK Partnership

Use the standard method of reporting for indirect partnerships

Report indirect partnership income by inserting sheets for each source then completing with subsidiary details.
If the parent partnership receives income from up to 4 child partnerships, HMRC requires you to produce the relevant return forms and statement pages for each source.
  1. Set up your calculation to support additional sources:
    • Go to the
      Permanent information
       sheet.
    • Mark the
      Insert multiple source analysis?
      checkbox.
  2. Select
    Insert
    Insert sheet
    .
  3. Select a
    Partnership statement
     for each source you need the additional return pages.
  4. In the new sheet, select
    Multiple source analysis
     from the dropdown.
    This will show additional columns in the summary sheet and additional insert rows in the sheet.
  5. Complete these columns and rows with the information from the subsidiary partnership.
  6. For each additional partnership statement, insert the return pages required.
note
  • The footer of the return will show it's a multiple-source sheet and the basis of preparation.
  • You can use this method if you have 5 or more sources. Using the HMRC template isn't required but is faster.

This article applies to:

  • Product: ONESOURCE Corporate Tax