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Anyone have experience of UK 'Partnership' business structure?


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I've tried and failed to find an online calculator for income tax and National Insurance payments and at what point it is deducted when there are two people involved, 50/50.

I have a found, for example, the following calculator when self employed/sole trader but I'm not sure if I can use it to calculate a 50/50 partner split.

https://www.employedandselfemployed.co.uk/self-employed-tax-calculator

If I have the following numbers, could I use the above calculator if I either split the income and outgoings before calculating or input the totals and split it in two after calculating?

Annual income: £147,000.00p

Annual Outgoings: £30,155.00p

Are there any other shenanigans when there is a Partnership as opposed to a sole trader setup?

 

Cheers,

Tom.

Edited by Tommygunn
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