Tax Advisors & Business Recovery Consultants | Phone: 020 8993 1867 - Free Tax Advice
Sagoo and Co. Chartered Accountants & tax advisors in London  

Partnerships

Whether you are venturing into a new partnership or are already established at Sagoo & Co. Chartered Accountants, we have dedicated accountants who can help your partnership business with all of your tax and accountancy needs.

A business run as a partnership shares control, responsibility and finances between 2 or more people. The partners are not only responsible for managing the business, but also “jointly and severally” liable for any debts incurred by the business and the profits are shared between the partners based on pre-agreed percentages.

Below are just a few examples of the advantages and disadvantages of running a business as a partnership.

Business Partnership Advantages:

bullet Business partnerships are relatively easy to establish; make sure time is taken to draft a partnership agreement to avoid future problems.
bullet With more than one owner, it may be easier to borrow money and raise capital to invest in the business.
bullet The business can benefit by using the knowledge base and experience of all of the partners.

Business Partnership Disadvantages:

bullet Business partners are liable for the actions of the other partners.
bullet Business partners, like sole traders are liable for the actions of the business.
bullet Since decisions are shared, disagreements can occur and therefore the decision making process can take longer.

Call us today 020 8993 1867 or drop us an email and we will call you back - info@sagoo.co.uk.

Find us


1st Floor,122 High Street, Acton, London, W3 6QX

Stations near: Acton Town, Acton Central & South Acton - busses: 207, 266 & 607 - MAP

Tel: 020 8993 1867


Opening Hours

Mon - Fri: 9.00-17.30
Saturday: 10.00-14.00
Sunday: Closed


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