S&Y Accounting Ltd
Certified Accountants and Business Advisors
Partnership
We can help you with your partnership tax and accountancy needs
In a partnership, you and your partner (or partners) personally share responsibility for your business. This includes:
- any losses your business makes
- bills for things you buy for your business, like stock or equipment
Partners share the business’s profits, and each partner pays tax on their share.
A partner doesn’t have to be an actual person. For example, a limited company counts as a ‘legal person’ and can also be a partner.
When you set up a business partnership you need to:
- choose a name
- choose a ‘nominated partner’
- register with HM Revenue and Customs (HMRC)
The ‘nominated partner’ is responsible for managing the partnership’s tax returns and keeping business records.
You can trade under your own names, or you can choose another name for your business. You don’t need to register your name.
You must include all the partners’ names and the business name (if you have one) on official paperwork, for example invoices and letters.
Partnership tax services, Tax return completion service, Landlord taxes in Ilford, Tax Returns in Ilford, Tax Returns in Barking, Best sole trader
Call us today to make an appointment at our office
0203 601 5656
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WHO WE HELP
ABOUT S&Y ACCOUNTING LTD
146A Cranbrook Road, Ilford, Essex, IG1 4LZ
Registered in England & Wales. Company Registration no: 07602427.
Registered with the Information Commissioner's Office for Data Protection purposes number: ZA260717.
HM Revenue & Customs agent number: 1228FC.
