What is a Partnership?

A Partnership is a business owned and run by two or more people,  with the partners sharing the profits according to the percentage they own. All partners are responsible for the debts and contracts of the business,  and are personally liable if the business does get into financial difficulties.

Partnerships can be a great way to operate if you are looking for a simplistic way of going into business with one or more people.  The structure can also be beneficial if there are many partners,  as adding and removing partners and their share of ownership of the businesses is very straight forward to do.  This is one reason business owners prefer to trade as a Partnership over a Limited Company.

The Accountancy Partnership can help with all of the accounting and tax requirements of Partnerships for a low cost monthly fee.  We can also help you set up your Partnership and ensure that you are operating in the most tax efficient way from the outset.

Why Partnerships love our service

The accounting industry is sadly renowned for blinding business owners with needless complexity.  In stark contrast, we appreciate that most business owners do not have an accounting or tax background  and therefore always strive to give advice in plain English. We will explain your financials in a clear and  concise manner and help you to understand our reporting of your business.

In our experience when a client understands their own accounts and  their related tax calculations they are subsequently much more informed when making important decisions in the day-to-day running of their business.  This can be the difference in failure and success for a business and why we place such importance on providing accessible advice and information.