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Partnership Profit Share Calculator

Share profits fairly, keep the partners' accounts straight and estimate everyone's tax – for partnerships and LLPs

£20
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Partnership Profit Share Calculator

Overview

Every year a partnership or LLP has to split its profit between the partners exactly as the partnership agreement says – salaries first, then interest on capital and any fixed shares, then whatever is left in the agreed ratios. Partners join and leave, ratios change part-way through the year, and for tax there are extra rules: a partner can't be given a tax loss while the firm makes a profit, profits are taxed on a tax-year basis since basis period reform, and some LLP members are really employees. This workbook does all of that from one set of inputs and shows each step, so partners can see exactly how their share was worked out.

Price
£20
Who it’s for
Tax & Company
Works with
Microsoft Excel for Windows and Mac
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See how it works

A walk through the main sheets

The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.

Step 1

Partners

Each partner's details, dates, other income, capital and opening balances. What you do: one row per partner or member.

Partners
Profit Sharing

Step 2

Profit Sharing

Salaries, fixed shares and residual ratios by period, with interest on capital worked out. What you do: enter the agreed arrangement.

Step 3

Allocation

Profit by period, then each period's split, then each partner's total – for the accounts and for tax. What you do: nothing to enter – check it.

Allocation
Tax Allocation

Step 4

Tax Allocation

Notional loss reallocation and the taxable share of each partner. What you do: nothing to enter.

Who it is for

Made for people like you

  • Example – text
  • Professional partnerships – Salaries, interest on capital and residual ratios shared correctly, with joiners and leavers time-apportioned.
  • LLPs – Fixed-share members, the salaried member test and members' remuneration charged as an expense.
  • Family and farming partnerships – A clear record of each partner's profit share, drawings, capital and tax reserve.
  • Accountants – A working paper from profit to SA800 shares to each partner's tax-year figure and tax estimate.

Quick start

Up and running in minutes

  1. Example – text
  1. Settings – Enter the firm's name, whether it's a partnership or an LLP, the accounting period, any profit-sharing change dates, the interest rate on capital, the profit and the tax adjustments, the tax year to estimate and the tax reserve %.
  2. Partners – List each partner or member, their role, when they joined or left, their other income, capital and opening current account and tax reserve balances.
  3. Profit Sharing – Enter each partner's salary, fixed share and residual ratio for each period.
  4. Check the Allocation – See the profit split period by period and confirm the check line says the total agrees to the profit.
  5. Current Accounts – Enter monthly drawings, other drawings and tax paid out of the reserve.
  6. Tax Year Basis – Enter each partner's share of the other accounting period that overlaps the tax year, and their transition profit figures.
  7. Tax Estimate – Enter payments on account already made and any tax deducted at source. Read each partner's tax and payment dates.
  8. Dashboard and SA800 – Review the dashboard, then use the SA800 Statement for the partnership return.

Key features

  • Up to 12 partners or LLP members: salaries, interest on capital, fixed shares and residual ratios, with up to three profit-sharing periods for ratio changes, joiners and leavers.
  • Notional loss reallocation for tax, so no partner is given a loss while the firm makes a profit – with the reallocation shown line by line.
  • Current accounts with drawings and tax reserve retentions, capital accounts with interest, and a check that each partner's reserve covers their tax bill.
  • Tax-year basis apportionment, transition profit spread to 2027/28, income tax and Class 4 per partner, an SA800 statement summary and the LLP salaried member test.

What’s included

  • Dashboard – Profit shares, tax, reserves and dates at a glance
  • Settings – The firm, the period, the profit and the tax year
  • Partners – Up to 12 partners or members and their balances
  • Profit Sharing – Salaries, fixed shares and residual ratios
  • Allocation – Profit shared period by period
  • Tax Allocation – Notional loss reallocation for tax
  • Current Accounts – Profit share, drawings and tax reserve
  • Capital Accounts – Capital in, out and interest
  • Tax Year Basis – Tax-year profits and transition profit
  • Tax Estimate – Income tax and Class 4 per partner
  • SA800 Statement – Partnership Statement summary
  • Salaried Members – LLP salaried member test
  • Tax Rates – Income tax and NI rates
  • Guide – How to use this workbook

How buying works

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