Partnerships
Why trade as a partnership and not a limited company?
A partnership offers less red tape than a limited company. Similar to a sole trader it is one of the most simple trading structures. Two or more people can share the burden and share the risk. What the partnership makes is what the partners can take out, but don’t forget the pending tax bill!
Our accountants are happy to advise further on the use of this structure and help assess if it suits you.
The perfect partnership?
We all know that any good marriage is built on good communication and this is the key to all good partnerships.
A cord of many strands is not easily broken. With that added strength comes a melding of egos and the need to make sensible decisions. You will need to find compromise and fairness in your dealings for any partnership to survive.
How can we help you?
Quay Accounts works with many successful partnerships. And indeed we help partner you along the road to profit. From forming your partnership, to working out a fair division and allocation of profits we will help your partnership along the way. As part of that we also deal with the associated paperwork that surrounds a partnership.
We are on hand to advise and help your partnership remain fruitful. We are not a marriage guidance counsellor, but we are not above giving advice and support to those embarking on and maintaining this kind of operation.
Our accountants can deal with the self assessments for the partnership and for one or all of the individual partners and you will have an accurate record of your respective profits.
We can help navigate your dealings with the HMRC and help your partnership have accurate accounts. We offer the advice and support you need to succeed in partnership.
Management accounts
If we are supplied paperwork in a timely manner Quay Accounts can provide monthly management reports – now that tells you exactly how well you are doing.
Give us a call!
Contact us to see how we can help your partnership thrive. Let us deal with your tax affairs and the accurate reflection of your performance, please call or fill out the feedback form provided. Let us help your partnership flourish.