A Partnership structure differs greatly from that of a limited company and its tax treatment can be complex. A partnership facilitates greater flexibility in the arrangement of business affairs and allows businesses to keep financial information out of the public arena. It can be an attractive option for profit making businesses that are looking to grow in a tax efficient manner.

A notable difference between partnership and limited company structure is that individuals in a partnership are personally liable for the debts of the business and are responsible for managing their own tax affairs.

Limited Liability Partnerships

Historically professional service providers were obliged to set up as partnerships, but the invention of the limited liability partnership (LLP) structure has resulted in LLPs becoming very popular and a more preferred option.

Specialist Advice For Partnerships

As a result of working with a variety of business sectors operating as partnerships our specialists are experienced in providing practical and relevant advice and services in the following areas:

  • Partnership returns
  • Accounts
  • Tax efficient structures
  • VAT registration and returns
  • Deeds of partnership
  • Converting to LLP status
  • Growth by acquisition or merger.
  • Dissolution of a partnership

We work with a variety of partnerships including, but not limited to:

  • Solicitors
  • Architects
  • Chartered surveyors

We also work with many smaller trading businesses that chose a partnership structure as a tax efficient way of growing.

To discuss your partnership taxation requirements please contact us

David Gibbs
David Gibbs
Ian Gibbon
Ian Gibbon
Jon Luk
Jon Luk
Briony Bradbury
Briony Bradbury
Sudheer Gupta
Sudheer Gupta
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