Knowledge

Partnership

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.

Help and advice
We have tried to answer as many common questions as possible on these pages, but if you do require further assistance
or have any other questions then please give us a call on +44 (0) 20 7060 7326 and we will be happy to help.