Are wages an expense?

[squinker45]

on my partnership tax return? So what I'm asking is, if i have paid myself and my husband all the profit from the partnership, does the profit show as £0 on the tax return? Then I pay tax on what I have paid myself?
Mr Anchovy!? Much appreciated!

Money that partners take out of the partnership to pay themselves is called drawings and is NOT an allowable expense.

oh thanks mr anchovy! Does that mean we pay tax twice then? once for the profit on the business and then again for our wages?

I have read a bit about it now, I think it makes sense more - you show on the partnership return that you have divided the profits, then pay tax on your individual one? Thanks for your help though!

Yes you've got it! No problem