{"id":2402,"date":"2017-07-27T12:45:46","date_gmt":"2017-07-27T11:45:46","guid":{"rendered":"https:\/\/www.certaxlondon.co.uk\/news\/?p=2402"},"modified":"2019-12-03T07:24:27","modified_gmt":"2019-12-03T07:24:27","slug":"what-is-an-sa401-form","status":"publish","type":"post","link":"https:\/\/staging.certaxlondon.co.uk\/news\/what-is-an-sa401-form\/","title":{"rendered":"What is an SA401 form? | SA401 Online Form"},"content":{"rendered":"

SA401 Form is a mandatory submission for an individual intending to become a partner in a partnership. It is used to register the individual\u2019s Self Assessment and class 2 NICs. It is noteworthy to mention that the partnership will register for self assessment with Form SA400. For partners who are not individuals but trusts or Liability Partnerships, SA 402 has to be filled.<\/p>\n

Each partner must fill SA401 or SA 402, as appropriate. SA 401\/ SA 402 should be filled and submitted even if a partner has submitted his personal self assessment in his own right.<\/p>\n

APPOINTING AN AGENT:<\/strong><\/p>\n

If a partner wants to authorise an agent to act on his behalf, he should additionally fill Form 64-8. Alternatively your agent can set up an online self assessment for him. Each partner will need to authorize his agent separately to manage his tax affairs. The agent authorization of the partnership itself will not cover tax affairs of the partners. 64-8 is available for download on HMRC website.<\/p>\n

WHAT DOES SA 401 CONTAIN:<\/strong><\/p>\n

SA 401 is divided into three parts; information about the partner, information about the partnership and a declaration. The partner needs to give his name, address, phone number and National Insurance Number. Partner needs to specify reasons if he has not been allotted National Insurance Number.\u00a0 Partner must also submit his Unique Tax Reference (UTR).<\/p>\n

I need free consultation<\/a><\/p>\n

Complete name and address should be provided for the partnership as well as the partnership UTR. In case of Limited Liability partnership mention the company registration number. It should be declared if the partners will be receiving partnership profits and sharing losses and\/or if the partnership is engaged in share fishing.<\/p>\n

The last part is a simple declaration where the partner declares that he has provided complete information to the best of his knowledge. Partner takes on the legal obligation to inform HMRC for any subsequent change in circumstances or learning that a fact reported is incorrect. You need to put in date of filing this SA 401 also.<\/p>\n

WHAT TO DO AFTER FILLING SA401:<\/strong><\/p>\n

Partner should send a completed SA401<\/strong> and 64-8 if he is authorising an agent on his behalf to:<\/p>\n

HMRC, National Insurance Contributions and Employer Office, Self-Employment and Self Assessment Registrations. Benton Park View, Newcastle upon Tyne, NE 98 1ZZ<\/p>\n

You can send SA400, SA401 and SA402 together but cannot attach anything else.<\/p>\n

In a move to make tax digital, UK government has allowed online submissions of all important tax documents. You can now complete SA 401 online on UK government official website<\/a>. You will need to register your free Government Gateway Account in order to access online services.<\/p>\n

What are Forms SA 400 and SA 402?<\/h2>\n

SA 400<\/strong> \u2013 this form is to be completed by a nominated partner for all partnerships in regards to submission of partnership tax returns. SA 400 will be used by HMRC<\/strong> to determine which tax returns your partnership need to complete. Form SA 400 will include details of partnership, what business does it do and the date when partnership started. In case of partnership being limited liability or a limited partnership, Company Registration number should also be included. You will mention UTR<\/strong> for each partner as well as the partnership.<\/p>\n

SA 402<\/strong>– this form is very similar to SA 401<\/strong>. However, this is completed by partners who are not individuals but a limited company. Any responsible person for example a company secretary can complete the SA 402 on the company\u2019s behalf. The person has to be officially nominated by the company and will remain the representing individual for the company in all partnership tax affairs.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

SA401 Form is a mandatory submission for an individual intending to become a partner in a partnership. It is used to register the individual\u2019s Self Assessment and class 2 NICs. It is noteworthy to mention that the partnership will register…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2402","post","type-post","status-publish","format-standard","hentry","category-tax"],"yoast_head":"\nWhat is an SA401 form? | SA401 Online Form - Certax London<\/title>\n<meta name=\"description\" content=\"what is form SA401, how is it filed and what information it contains. 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