Two or More

A partnership is effectively two or more individuals running a business together.

The tax return is calculated on the profits of the business and is then divided between the partners depending on their partnership share.

We would always recommend a partnership agreement is drawn up to protect each partner from future events.

Sometimes books can become rather more complex as transactions can be doubled or trebled depending o the number of partners.

If you need help with setting up a suitable bookkeeping system or accounts at year end please contact us on 01428 727313