Auditing Services

Accounting Services for Partnerships - Setting Up

Setting up in business as a Partnership is almost as simple as being a Sole Trader.  You will need to notify HM Revenue and Customs that you are trading, open a bank account and start trading.  However, you may also want to speak to a lawyer who can give you advice on a Partnership Agreement.

You will need to prepare annual partnership accounts, submit a Self Assessment Tax return for each Partner and for the Partnership.  Each Partner will pay Income Tax on their share of the  profits.

The tax due on the business profits is due to be paid by instalments, with the all important dates being 31st January and 31st July.

Partnership Accounting - Getting Started

We can help keep your Partnership accounting simple for you by:

  • Guiding you in the early days
  • Advising on how to keep your records
  • Preparing the annual accounts
  • Calculating your Income Tax
  • Preparing the Self Assessment Tax return for the Partners and the Partnership
  • Reminding you of the payment dates

 

More Information

If you would like more information, contact:

Steve Mitchell This email address is being protected from spambots. You need JavaScript enabled to view it.

Mairi MacIver This email address is being protected from spambots. You need JavaScript enabled to view it.

Mairi Gordon This email address is being protected from spambots. You need JavaScript enabled to view it.

Or call us on 01224 625111.

Client Testimonials

Prev Next

A.R. Mathers & Sons

"AAB have been our accountants for many years. Having AAB as our business advisors gives...

Read more

Fergus & Glover

"AAB have been our accountants and personal tax advisors over the past two decades. Their...

Read more

Forbes Homes Limited

"Anderson, Anderson & Brown have proved to be a real asset since taking on the...

Read more
Contact

Contact

 

Steve Mitchell

Senior Manager

 

E: This email address is being protected from spambots. You need JavaScript enabled to view it.

T: 01224 625111

Meet the Team

Contact

Sage Helpline

 

T: 01224 418333

RTI Publications

Publications

 
Accounting Services Newsletter August 2014 Welcome to the August 2014 edition of the AAB Accounting Services Newsletter... 
 
Freelance Contracting This is a common way of operating in the oil and gas and IT industry. But what are the issues that freelance contractors should be aware of?
 
How contractors can avoid falling foul of the taxman Work: The system has benefits - and pitfalls
 

More Publications