ONESOURCE tax compliance for partnership deals with trading, investment and property partnerships consisting of individual, non-resident, corporate and mixed partnerships.
It includes full business tax schedules to produce computations on income tax and/or corporation tax principles, allocation schedules, tax reserve calculation summaries and appropriate reconciliations. Changes of accounting date are also catered for, as are adjustments for joiners and leavers. All overlap reliefs are calculated and tracked. All partnership returns are integrated into the software and reflect the type of partnership set up. The partnership application interfaces directly with the corporation tax module to assist in the preparation of corporate partners’ tax computations. A dynamic link between the modules ensures that the tax return file reflects the most up to date partnership figures.