Partnerships

The whole chain, handled

A trading partnership needs its accounts, its own partnership return (SA800), and a personal return for each partner showing their profit share, all consistent with each other, all on time. We prepare the full set together, which is faster, cheaper and far less error-prone than splitting the work.

• Partnership accounts prepared from your records
• SA800 partnership return filed with HMRC
• Each partner's Self Assessment completed alongside, with personal allowances and reliefs applied
• VAT and payroll where the partnership is registered or employs staff
• LLP accounts: limited liability partnerships also file at Companies House, which we handle

Profit sharing and fairness

Profit-sharing ratios, salaried partners, capital accounts, partners joining and retiring: these are where partnerships generate disputes. We keep the accounting clean and the tax right through every change, and we'll flag when your partnership agreement and your actual practice have drifted apart.

Thinking about incorporating?

Many partnerships eventually weigh becoming a limited company. The answer depends on profit levels, drawings habits and what you'd do with retained profits. We model it on your real numbers so the decision is informed, not fashionable.