Post by shawnturner on Jan 6, 2018 5:29:25 GMT
Hi,
This time round, can I split it say 70/30 or 80/20 in her favour as she has not worked a full year of employment in her full-time role (we both have full-time jobs, this is our side business) plus she has carried out a higher % of the actual work involved in this business, due to her having more time free to do so?
If for example for this year her wages were half the previous year, would it have any effect on how much combined tax we paid if I used this 70/30 or 80/20 profit split?
I didn't find the right solution from the internet.
References: forums.overclockers.co.uk/threads/partnership-self-!@%!%essment-tax-return.18807268/
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This time round, can I split it say 70/30 or 80/20 in her favour as she has not worked a full year of employment in her full-time role (we both have full-time jobs, this is our side business) plus she has carried out a higher % of the actual work involved in this business, due to her having more time free to do so?
If for example for this year her wages were half the previous year, would it have any effect on how much combined tax we paid if I used this 70/30 or 80/20 profit split?
I didn't find the right solution from the internet.
References: forums.overclockers.co.uk/threads/partnership-self-!@%!%essment-tax-return.18807268/
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