Business accounting services
Have you just entered into a partnership to streamline your business? While this relieves you of responsibility, it can make managing your accounts more difficult! If you need help, our flexible and affordable partnership service is for you.
If you’re new to nonprofit management, we know how confusing it can be! Our accountants are specialists in helping businesses like yours. We can help you prepare your annual income and expense accounts, your tax review and even your self-assessment and partnership returns.
We have designed our partnership accounting service to ensure you are in compliance at all times. To help you, we always include unlimited online support, so you can ask us for advice at any time!
Accountancy services we provide:
We provide business accounts, tax returns, VAT returns, accounting services, self-assessments, payroll services, etc., to sole traders, limited liability companies, partnerships, LLP, to entrepreneurs and individuals across the UK. We are best known for our all-inclusive unlimited service plan, which includes all accounting services required by a UK business and more for a fixed monthly fee.
What is a partnership or an association?
A partnership is a business owned and operated by two or more people, with the partners sharing the profits based on the percentage they own. All partners are liable for the debts and contracts of the business and are personally liable if the business runs into financial difficulties.
Partnerships can be a great way to work if you’re looking for an easy way to do business with one or more people.
Structure can also be beneficial if there are many partners, as adding and removing partners and their ownership of the business is very easy to do. This is one of the reasons why business owners prefer to operate as a partnership rather than a limited liability company.
Advantages and disadvantages of a partnership
Benefits of business partnership:
Business partnerships are relatively easy to establish; Be sure to take the time to draft a partnership agreement to avoid future problems.
With more than one owner, it can be easier to borrow money and raise capital to invest in the business.
The business can benefit from using the knowledge base and experience of all partners.
Disadvantages of trading company:
Business partners are responsible for the actions of other partners.
Business partners, like sole traders, are responsible for the actions of the business.
Since decisions are shared, disagreements may arise and therefore the decision-making process may take longer.
Business accounting services
However, our business bookkeeping and business accountant services will help you through the process.
