Partnership aren’t just for accountants, lawyers, architects and other professionals, In fact, if two or more of you are thinking of going into any kind of business together, forming a partnership could be the way to go about it.
It’s simple to set up and administer, you pay and tax yourselves like sole traders, and it’s a straightforward process if anyone decides they want out. For something more formal, you also have the option of a limited liability partnership (LLP). This is a separate legal entity, in which the partners have limited liability for any debts. We can help you with all aspects of setting up and running your partnership business, including
- drawing up a suitable partnership agreement
- registering your LLP with Companies House and HMRC
- advising on your individual remuneration and tax arrangements
- VAT and other business accounting systems