Business accounting services in Hertfordshire

Partnership Tax

In a partnership partners (at least 2 or more) share responsibilities for the business. This includes;

  • Any losses the business makes
  • Bills for things you buy for your business, like stock or equipment

A partnership must also file and report a tax return and declare the income, expenses, and partner share of profit/loss. This return then links to the ‘legal persons’ tax return and the partner pays tax on their share.

What we can help you with

  • Formation of a partnership
  • Advise on the partnership split between partners
  • Understanding the tax implications and what can be included in the financial statements

We can offer advice regarding the setup and formation of a partnership, so feel free to Contact Us now and discuss your options.

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“WOW” what a breath of fresh air it was to switch over to The Z² Group, to be finally working with a proactive and professional company led by Charlotte who has always got time to assist us, whenever required and just making the whole process of our accounts and dealing with HMRC very simple.
- Matt Aubrey, Aubrey Homes Construction Ltd