We understand that the type of business you run comes with its own unique challenges, as well as different tax implications and legal responsibilities. Our dedicated partnership accountants are on hand to relieve the burden of managing the accounts of a business partnership, giving you more time to focus on running your company and driving success.
In a business partnership, you and your partner(s) share responsibility for your business, including any losses your business makes and bills for stock, equipment or other business expenses. Business partnerships are subject to unlimited liability, meaning all debts and after-tax profits belong to you and your business partners.
In addition to your businesses tax return, each business partner must also declare any partnership profits on their own personal tax return. Each partner must pay tax and National Insurance on their individual profit.
Contact UsOur partnership accountants can help you with a range of financial responsibilities involved in setting up a business partnership and making sure that it is completely tax compliant. These include:
When forming a business partnership, you need to choose a nominated partner, responsible for managing the business’s tax returns and bookkeeping. This can be a huge undertaking, no matter the size of your business, but our winning combination of accounting technology and industry expertise is designed to take the stress out of tax compliance, and provide a tailored service at a fixed fee.
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