Partnership Services

Partnership Services CreweWhether you are an established partnership or about to embark on a business venture as a partner, Shires can help.

For a small business without financial exposure a partnership can offer great benefits:

  • Partners can withdraw funds from the business bank account when require
  • Partners do not need to be concerned with PAYE, P11Ds or dividend vouchers
  • There are no tax penalties for the partners taking loans from the business
  • Each partner is responsible for tax on their individual share of the profits

We are able to offer advice and conclude the following Partnership Services

  • Register your partnership with the HMRC
  • Obtain a UTR number for your partnership
  • Obtain UTR numbers for the partners
  • Draft a partnership agreement
  • Percentage shares and ownership
  • Establish Green Sock Clause
  • Establish provision for salaried partners
  • Prepare and conclude year end accounts for the partnership
  • Self-assessment returns for the equity partners
  • Revenue return for the partnership
  • National Insurance Contributions
  • Record keeping
  • Maximise business expenses that are tax deductible
  • VAT registration, VAT schemes, quarterly returns and if and when you should register
  • Claim all relevant allowances
  • PAYE / CIS Construction Industry scheme (If applicable)
  • Ensure you meet deadlines and avoid fines and penalties

Contact us to find out more

Please use our quick enquiry form to get in touch with us and we'll get back to you within 24 hours.