Partnership Accounting ServicesExpert Online Accounting Services
Whether you are venturing into a new partnership or are already established, we have dedicated accountants who can help your partnership business with all of your tax and accounting needs.
A business run as a partnership shares control, responsibility and finances between two or more people. The partners are not only responsible for managing the business, but also “jointly and severally” liable for any debts incurred by the business and the profits are shared between the partners based on pre-agreed percentages.
Below are just a few examples of the advantages and disadvantages of running a business as a partnership.
Business Partnership Advantages & Disadvantages
- Business partnerships are relatively easy to establish; make sure time is taken to draft a partnership agreement to avoid future problems.
- With more than one owner, it may be easier to borrow money and raise capital to invest in the business.
- The business can benefit by using the knowledge base and experience of all of the partners.
- Business partners are liable for the actions of the other partners.
- Business partners, like sole traders are liable for the actions of the business.
- Since decisions are shared, disagreements can occur and therefore the decision making process can take longer.
Why Choose Our Online Accounting Services?
1. Get a Quote
2. Register Your Business
3. Receive a Warm Welcome
We help the businesses in the UK to thrive.
Amazing Experience – When you join us we will assign one of our accountants to you. They will really get to know you and your business in detail, providing one point of contact for any queries you may have.
Always Digital – We’ve partnered with Intuit QuickBooks to offer you an online accounting service that takes the guesswork out of managing your financial business records and allows you to do what you do best – drive sales and grow your business.
Expert Advice – Your dedicated accountant will always be on hand to answer any questions about your business.
No Hidden Costs – We will complete your annual accounts and submit any necessary tax returns to ensure your business always stays compliant with HMRC.
Tax Efficiency Reviews – We’ll also conduct regular tax efficiency reviews throughout your financial year, ensuring your business is being run in the most tax efficient way.