Knowledge

Partnership

In the UK, partnerships are very popular form of business and carry their own set of advantages that may be useful for the type of business you want to establish. A partnership is formed when you and your partner(s) share personal responsibility for your business. That includes business losses and bills for things you buy for your business. In a partnership, partners share business profits and they also pay taxes on their shares.  A partner in a partnership doesn’t have to be a physical person, which means that a limited company can become a partner as it is a separate legal person.

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