Wherever you are in your business journey, we can help with any other needs
A partnership is effectively two or more individuals running a business together.
The profits created by the partnership are split according to each partner’s share. Tax is paid on the profit allocation via their own personal tax return. The partnership will need it’s own unique tax reference (UTR) and has to submit an annual tax return.
We always recommend a partnership agreements is formed, particularly if made up of unrelated individuals.
We can help set up a process to monitor each partner’s spending and potential tax liabilities.
Contact us today if you are thinking of going into business with someone else.
Quickbooks Online and Xero are the two main accounting packages we use and recommend to our clients and both are available through our bureau licence at slightly discounted rates.
The set up and customisation of any package is important to ensure faster processing and more meaningful reports. This is a service offered along with training if required.
Being cloud based, data can be shared between you and us making any corrections or ongoing help easier to manage.
Other software packages are used within JMB, as keeping up with the latest trends and technology is part of our ethos. How can we help our clients more or make improvements internally is constantly reviewed.
Having decided to start your own business, we can help with the various financial and set-up issues that may be required. This might include:
- Installing and setting up and accounting system
- Registering with HMRC
- Advice and management of monthly payroll
- Training on accounting software
- Ongoing support as and when needed
- As your business grows, advising on VAT and other tax efficiencies
If this is your first venture into the world of business, there will be a myriad of questions, we are here to answer these and give a helping hand to get you up and running with confidence and support.
Our free 40 minute consultation will set you on the right track.
We can also offer you affordable Branding and Website Start-up Packages through our partner Breathe Creative.
No two companies are the same and neither are their owners. At JMB, we recognise this and offer various packages to help manage costs whilst retaining flexibility to give the level of assistance and support you want and need.
Services we can provide for your limited company include:
- Forming the company in desired name and shareholding
- Acting as your registered office and dealing with Companies House filings
- Annual accounts and return submissions to HMRC
- Management accounts and reporting
- PAYE, pension and payroll
- VAT registrations, reviews and submissions
- Strategic advice around tax and tax planning
- Salary versus dividend calculations
- Personal tax return and director loan account monitoring
We help companies from their start up phase to their potential exit or closure further down the line. Wherever you are in your business journey, please call us today, and let’s talk.