TaxSimba — Does Partnership Income Put You Into MTD for Income Tax?
Preparation worksheet

Optional offline planning aid, not a tax return or filing confirmation.
Keep completed notes securely; never include passwords or one-time codes.

WORK THROUGH THIS EXAMPLE
Keep the partnership statement separate from any personal sole trade and rental records. The partnership’s gross receipts are not automatically the individual partner’s personal trading receipts for MTD entry. The wider annual return still needs the relevant partnership information.

DECISION TO RESOLVE
Which activity is a partnership and which is a separate personal business?

YOUR POSITION
Relevant year and source: ____________________
Evidence supporting your answer: ____________________
Missing item and who will obtain it: ____________________
Deadline or next review date: ____________________

1. Obtain the partnership statement and tax reference.
Notes: ______________________________

2. Record the profit allocation and period.
Notes: ______________________________

3. Keep drawings separate from taxable profit.
Notes: ______________________________

4. List personal trades and property sources.
Notes: ______________________________

5. Confirm personal and partnership filing responsibilities.
Notes: ______________________________

Actions agreed and responsible person:
____________________________________

Guide: https://taxsimba.co.uk/blogs/mtd-partnership-income-individual-partners
Check the current guide and official sources before relying on a deadline or process.