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• # 78399
• Tue 17 Jan 2012 09:52 AM

A friend of mine is in a partnership with another lady and has asked me whether she has to go to an accountant to have their partnership return prepared, or whether a bookkeeper can do it.  The reason for the question is that in her previous experience her accountant has charged them a fortune.

I've advised her that I certainly didn't have the training to do this, but can an MICB do this? 

Can someone please advise.

Many thanks 

• Debbie
  www.beckcottage.com
  
  

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• # 78404
• Tue 17 Jan 2012 01:01 PM

Hi Debbie - Are you talking about the partnership accounts or her own personal tax return? To be honest, I'd recommend giving the ICB a quick call. They should be able to give you the answer quickly and not subject to the chance of someone here getting it wrong

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• # 78427
• Tue 17 Jan 2012 09:30 PM

Hi Danya, thanks for your reply - I'll give the ICB a call tomorrow.

Kind regards 

• Debbie
  www.beckcottage.com
  
  

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• # 78497
• Thu 19 Jan 2012 09:43 AM

I contacted the ICB with this issue myself a few weekes ago. Provided you have completed the Level 3 Examinations in bookkeeping and the Diploma in Tax returns you are qualified to do them. I hope this helps.

• Aaron Lilley
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• # 78500
• Thu 19 Jan 2012 10:05 AM

Hi all

The level three qualification certainly covers partnerships.  I did them in detail - but that might just have been my training provider.  As long as you are a qualified certified bookkeeper then partnership accounts are easy.  They are basically sole trader accounts with a few differences, mostly involving how things are split between the partners - and that is decided by either the Partnership Act or a partnership agreement.

It is always a good idea to have done the SA tax exam -  SA tax returns (which includes partnerships) are a nice little earner - and why do the complicated accounts yourself and then let an accountant do the easy bit of the tax return?

Lucy 

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