If you require our accounting services, call 02840662490.
As a business partnership, you and your business partner (or partners) split the responsibility of the business you are controlling. This means both sharing profits equally and paying your individual taxes on your share of the profit. At SM Vint & Company, we specialise in accountancy for business partnerships in Banbridge, County Down.
For further information about how our business partnership accountants can assist, call us in Banbridge on 02840 662 490.
A business partnership is formed of two or more people, sharing the responsibility for the business. It can be a very appealing form of business set-up, especially if you have common business idea, or your skills compliment each other in a way that would make a great team.
As a partnership, you are equally responsible for the business’s liabilities and debts. Moreover, everyone involved in the management of the company have equal control and any decisions require common consent of all partners. Any obligation made by one partner is legally binding on everyone.
At SM Vint & Company, we are always on hand to assist your business. Our team can guide you through all procedures and help you keep on top of deadlines. Some of our services include:
For further information about our services, contact our team today.
Although they are still treated like a normal partnership for tax purposes, members of a limited liability partnership (LLP) are protected. A partner in an LLP isn’t personally liable for any business debts. They are only responsible for the amount they initially invested into the company to begin with.
Members of an LLP are separate legal entities where deeds and contracts will be entered, meaning the company can sue and be sued in its own name. Floating charges may be applied to the assets of the business, which cannot happen in a normal partnership. LLP businesses must register all documents and accounts with Companies House. These will be stored and available for public viewing.
For further information about how our accountancy services can benefit you, don’t hesitate to contact SM Vint & Company. Call us on 02840 662 490. Alternatively, you can make an enquiry through our online contact form. Our business partnership accountants are happy to assist.
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