LIMITED COMPANIES VS PARTNERSHIPS
Going into business with your eyes open
At some point in most businesses’ life cycle, you need to decide if you want to grow the business from a sole trader to creating a limited company or entering a partnership with another individual.
We recognise this is another big step for any small business owner, and we have enormous experience in supporting businesses transition to both limited companies and partnerships. You’ll be in good, very experienced hands.
What is a partnership?
A partnership is not a formal company; it’s a business where more than one person has agreed to a percentage split of the profits. If you’re considering a partnership, our Tax Planning Services can prepare and file the Partnership Tax Return, and Partnership accounts, as well as Self-assessment tax returns for the individual partners involved.
What is a limited company?
Limited company is a formal, contractual arrangement, where two or more people own shares in the business and can in addition to taking a tax efficient wage, can earn dividend payments from those shares. To form a Limited company, you need to incorporate your business. Our Incorporation Services will complete all the Companies House forms, put a shareholder’s agreement in place so everyone’s protected, and file everything with Companies House on your behalf.
We can take care of filing the companies Corporation Tax return as part of our Tax Planning suite of services. Plus, we’ll look after your directors Self-assessment Tax Returns too.
The more your company grows, the greater the demands on your time on things that need to be done – and the longer your to-do list! You may well be taking on more staff and so have payroll responsibilities, your bookkeeping could well require more time and attention and, as your profits increase, you may need to register for VAT – if you didn’t do so at the start.
We also offer Bookkeeping, VAT planning and Payroll Services. Everything your fast-growing business needs going forward, so you can focus your time and energies on running your business.
Why Pi?
Most small businesses wouldn’t be able to afford a fulltime bookkeeper
Some businesses can only dream of being large enough to employ a full-time finance support team.
At Pi Accountancy, we bridge that gap – we’ve got the industry expertise and experience that feels like full time support. Giving you the reassurance that your tax and finances are being taken care of, quickly, painlessly, and on time.
Like having a personal on hand finance team, for a fraction of the cost.
Limited or Partnership?
Get in touch with us by using our contact us pages if you’d like to find out about if you’d like to find out about any of our services. We understand that every situation is distinct, and by initiating this contact, you take the first step towards a more informed, effective, and successful journey.
Request a callback from one of our team
"*" indicates required fields