Journey

Close your business partnership

Agree when the partnership ends, finish its business and pay what it owes, then share out what is left. The nominated partner files a final partnership tax return, each partner files their own, and you cancel VAT and close payroll if you had them.

Changing Updated 1 November 2026

  1. Agree when the partnership ends

    Your partnership agreement, a partner's notice, a partner's death or bankruptcy, or a court order can bring the partnership to an end.

    Create a partnership agreement Striking off or dissolving a limited liability partnership

  2. Finish the partnership's business

    After the end date, partners can act for the firm only to wind it up and complete work already started.

  3. Tell customers, suppliers and the public

    Tell everyone who dealt with the firm, and place a notice in the Gazette to warn people who did not.

    The Gazette

  4. Pay what the firm owes and share out the rest

    Pay outside creditors first, then partners' loans to the firm, then their capital, and divide any surplus.

  5. File the final tax returns

    The nominated partner reports the closure on the final partnership tax return, and every partner sends their own return.

    File partnership tax returns (SA800) Report capital gains on your Self Assessment Business Asset Disposal Relief Keep business records after closing

  6. Cancel VAT and close your payroll

    Cancel the VAT registration when you stop making taxable supplies, and close the PAYE scheme if the firm employed anyone.

    Cancel your VAT registration Close your PAYE scheme

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