Under self-assessment, a partnership return, made by a specified partner or his successor (or a person identified by a given rule), must include a statement of profits, the separate partners being treated as if their share of profits accrued directly to them from a sole trade. The partnership statement may be for the tax year as well as for the accounting period, and may include details of the allocation of consideration from the disposal of partnership property.

From 2018–19, the rules have been clarified so that where a partner in a partnership acts in the capacity of a bare trustee, the beneficiaries of that trust are treated as partners for tax purposes.

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