The rules requiring the inclusion of the unique taxpayer reference (UTR) for each and every partner in the partnership return have been relaxed. For returns made after 15 March 2018 there is no longer a need to include every partner’s UTR where the partnership is making a return under the Common Reporting Standard or under the Foreign Tax Compliance Act (FTCA). However, the partnership return must include a statement confirming the relevant provisions have been met.

Changes have also been introduced to the reporting requirements requiring a beneficiary of a nominee or bare trust arrangement to be treated as a partner and named on the partnership return.

Where you operate your business as a partnership, call us on 01275 852255 to ensure that all the reporting requirements are being met.