Partnership tax

Tax treatment of partnerships

The tax affairs relating to partnerships and limited liability partnerships (LLPs) are extremely complicated.

The matters concerning profit share agreements, ownership of partnership assets and the rules relating to incoming and outgoing partners are particularly complex and we have a wealth of experience in dealing with these important areas.

All business clients are offered fee protection insurance which ranges from £58-£160 per month to cover all of our costs should HM Revenue and Customs (HMRC) investigate personal tax returns, corporation tax returns, Pay As You Earn (PAYE) or VAT matters.

You may find our tax tips download informative.

Corporate tax

Corporate tax compliance obligations are complex and costly, and the Government introduces new measures each year.

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VAT

Although it was originally designed as a simple tax, VAT has become increasingly complex.

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Share schemes

Share schemes are an incentive to staff, and we can help with the setting up and management of these.

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Tax investigations

Enquiries and investigations from HMRC can be stressful, time consuming and costly.

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R&D tax credits

The opportunities for claiming R&D tax credits are much wider than generally appreciated.

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Patent box

Patent Box works with R&D tax credits and could result in tax cuts for innovative businesses.

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Employment tax

We can give comprehensive advice on employment tax matters, and practical problems which may arise day to day.

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International tax

We offer tax planning and comprehensive information to those entering the global market.

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Land property tax

We can deal with all matters, including tax relief on capital allowances, which are complex in the extreme.

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Change to Whitley Stimpson

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Step 1

Confirm to your accountant that you wish to move to Whitley Stimpson

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Step 2

Supply Whitley Stimpson with your existing accountant’s details

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Step 3

Relax. We’ll handle the rest.

Partners in your progress

Talk to us today about your partnership tax and profit share agreements.