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Post Info TOPIC: Partnerships
Leger


Master Book-keeper

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Partnerships
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My client is currently a Ltd Company and he's teamed up with a sole trader on a long term contract.  I was expecting them to form a new Ltd Company but I've now been informed they are discussing a partnership, as it will be better from a tax point of view.

One thing I have deliberately avoided so far is doing partnership accounts as I haven't a clue whats involved.

So two questions, are partnerships complicated to do or is it something I could easily get my head round from my knowledge of doing SMALL Ltd Co accounts and sole traders?

I'm a bit sceptical on the tax side, would a partnership bring any tax advantages over a Ltd Company?

 

 



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Cheshire


Master Book-keeper

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Posts: 8646
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Hi John
Just send you a 'PM'



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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