We advise the partners on their own personal tax and the Partnership (or Limited Liability Partnership) business.
We fully appreciate the business of partnerships, the working practices and culture, so we tailor our tax and financial advisory services accordingly.
We work with a wide variety of partnerships in professional services, healthcare, financial services, construction sectors and family business partnerships.
Although a simpler business structure than a limited company the continually evolving regulations and tax environment – especially for members of LLPs – requires proactive tax planning and regular reviews to ensure the partnership and the partners individual tax position is optimised.
Our experienced team of tax and accounting professionals use their knowledge and expertise to advise the partnerships and the individual partners, providing additional support when you are introducing new partners, or exiting partners are considering retirement.
Our services include:
- Calculation and completion of the partnership and the individual partners tax returns, advising when payments will fall due, ensuring sufficient tax reserves are maintained for each partner and making the tax payments to HMRC on your behalf.
- Advising the individual partners on their personal tax position ensuring they are accessing the various reliefs, allowance and incentives they are entitled to access.
- Advising new partners on the opening year rules and developing exit strategies for retiring partners, taking into consideration Capital Gains Tax and Inheritance Tax impacts.
- Advising on setting up the partnership and on all other business and employer taxes.
- Providing convenient tax surgeries for individual partners that take place at your offices.