Do you operate as a partnership with fellow professionals, or have you decided to start up a business without the administrative burden of a Limited Company? We work with a range of partnerships including doctors' practices, lawyers, salons and event managers.
Two of the big challenges of Limited Partnerships are the fact that they are taxed separately to your main assessment and that in order for you to understand where you stand, careful management of your capital accounts is required. We have experience in dealing with the tax office in filing partnership tax returns and in pulling together financial statements to ensure that your capital account accurately reflects what your share of the partnership is worth.
Perhaps you’re thinking of incorporating a company to give you the legal protection they offer. We are more than happy to meet with you to discuss the benefits of either option and to work out what might suit your business best.