Partnerships are a popular form of business in the UK that carry their own set of advantages that may just prove useful for the type of business you want to establish. As experts in the field of UK company incorporation, we will help you set up your partnership without a hitch!
As the name suggests, a partnership is formed when you and a partner(s) share personal responsibility for your business, and that includes business losses and bills for things you buy for your business, which makes it distinct from a limited company.
Partners share business profits, but they also each pay tax on their share. Keep in mind that a partner doesn’t have to be a person, as a limited company counts as a legal person, for example, and can also be a partner.
You can count on Best Formations to handle all you accounting and taxation, CIS, partnership agreements, and other formalities related to your business so that you can focus on what’s truly important. Setting up a company could not be easier.
- Accounting and Taxation
– Bookkeeping and accounting is an essential part of any business. Let us handle them for you
- Construction Industry Scheme (CIS)
– The CIS pertains to construction businesses and stipulates all of their payment rules
- Partnership agreement (Deed of partnership)
– Make sure your agreement has everything it needs with out help
- Partnership types: Ordinary (General) Partnership and Limited Liability Partnership (LLP)
– We’ll help you choose the type of partnership that will best suit your individual needs
- Payroll (PAYE)
– The PAYE system is an efficient way of handling all of your employees’ payments on the regular
- Registration and formalities
– Setting up a company involves a number of formalities that we can take care of for you
- Running a partnership
– Maintaining a partnership doesn’t need to be a complex affair – let us show you how to do it efficiently
- Setting up and registering an ordinary (general) partnership
– All partnerships have to start somewhere – we can show you how to set up and register your own partnership