Partnerships

Even the strongest relationships can suffer in times of adversity. Good planning is an essential part of creating a successful business partnership. Our guides provide information on important aspects of your partnership, such as setting up a formal agreement and planning for the unexpected. It is essential to seek our advice with regard to partnerships matters.

Limited liability partnerships

An LLP is a form of separate legal business entity that gives the benefits of limited liability but allows its members the flexibility of organising their internal structure as a traditional partnership. They are intended for businesses which carry on a trade or profession, and are particularly attractive to larger professional partnerships. more >

Partnership agreements

Did you know that if you have no partnership agreement, then the provisions of the Partnership Act of 1890 apply? more >

The tax system for partnerships

If you form a partnership, you must register it separately with HMRC even if the partners have previously been self-employed. If the partners are new to business, they must also register individually. Registration for both partnerships and individual partners is now done online through the HMRC website. more >

Interest and tax payments

HMRC charge interest on underpayments of tax, and pays interest (repayment supplement) on overpayments. more >

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