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Ar y cyd is a Welsh term referring to the joint tax return system utilized by partners in a business, particularly in partnerships to report income and expenses collectively.
Partners in a partnership or individuals who share a business income are required to file ar y cyd.
To fill out ar y cyd, individuals need to provide their personal information, details of the partnership, income generated, allowable expenses, and any applicable tax reliefs.
The purpose of ar y cyd is to accurately report the combined income and expenses of a partnership for tax purposes, ensuring correct taxation.
Information that must be reported includes each partner's share of income, expenses, capital allowances, and any other deductions or credits relevant to the partnership.
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