Partnerships
Accountancy Services
A Partnership is a collective of individuals that trade as one entity. There is no limit to the number of partners. It is an entity that again is used by startups and also clients with a large bank of assets.
It is a flexible and simple structure that works very well for some clients and specific sectors.
The number of partners add to the complexity of the entity and partnership agreements should be properly drawn to clarify all possible eventualities.
All partners are jointly and severable liable for any debt.
We would review your business offering, forecasts and all partners circumstances to ensure this entity would work for you.
We would prepare and complete the partnership accounts. These accounts are incorporated into a Partnership tax return and then these individual profits are linked to your personal tax returns.
We would complete the Partners tax returns and inform you of any liabilities and when they are due for payment.
