Partnerships are a more formalised business structure between two or more individuals frequently with a legal agreement between the partners covering specific areas such as profit sharing, dispute resolution. It is often a good way of combining different skills within a business without the formality of a limited company or LLP Structure.
We can help you with: –
• Advice on creating, and the contents of, a Partnership Agreement
• Registering a new partnership with HMRC along with the partners involved
• Comparing the tax cost of trading as a partnership versus trading as a limited company
• Preparing statutory accounts
• Examining the possibility of becoming a limited liability partnership
• Preparing the self-assessment tax returns of the partnership and the individual partners
• Pre-year end tax planning advice
• Management accounts
• Cash flow projections and business forecasts
Since our inception we have been able to use our long standing relationships with Financial Advisors, Solicitors, Banking and VAT specialists built up with our parent company Yorkshire Medical Accountants.
The level of our involvement and support in running your business is determined by you and will be tailored to meet your particular requirements.