Record partner shares

The Partners' Shares tab is used to record partners and apportion income between them.

Refer to the HMRC Self Assessment Partnership Tax Return (SA800) guidance if needed (opens in a new tab).

Once you have completed the data sheets in the SA800, the data is ready to file and be uploaded to the individual partner's tax return via the SA104 partnership page as required.

  1. From the Clients menu, select Clients list.
  2. Change the client list view to either Active clients or a custom view that includes all relevant clients.

    3. If any of the entries are greyed out and you cannot select them, this is a restricted item — the parent client record has been set to Private and you do not have access. If you believe this is a mistake, contact your IRIS Elements administrator. Users who have Administrator level permissions are able to view all public and private client records, even those where they are not named as assigned users.

  3. From the Partnership tax returns widget on the client dashboard, select the required return.
  1. Select the Partners' Shares tab.

For IRIS Elements Tax Essentials and IRIS Elements Tax Professional

  1. Values that require apportioning are shown on the left, with a column for Under / (over) allocated values.
  2. Active partners are listed individually with fields below for entry of the required values.
  3. Select Edit partners to add or edit any partner details.
  4. Select Add relationship then search for the client, choose the Relationship, complete any necessary details, then Save & return.
  5. Complete the shares amounts then select Save changes.

    At this point you can either add the Trade page and other pages as required, or if this information has already been entered, select the Partners' Shares tab and apportion the profit / loss amongst the partners.

For IRIS Elements Tax Enterprise subscribers

All profits, losses, income, and tax credits for the this tax return Period, are automatically pulled into this page. All partners are also pulled in.

When all shares have been allocated, select Back to return to the tax return.

To split all profits and losses according to a percentage

  1. Select the Edit icon in turn for each partner.
  2. Enter the relevant Partner shares (%) split for this partner as a percentage amount.

To split each individual profit or less entry

  1. Select the vertical ellipses (three dots) for the relevant profit or loss entry.
  2. Enter each partner's allocated amount as a monetary value in Partner Values.
  3. If you make a mistake, select Revert value.
  4. Select Save.