Professional Firms & Partnerships
Our experience in dealing with professional firms and partnerships is not merely born out us being one, but from understanding the unique accounting and tax needs and requirements of these entities and those within them.
The general accountancy rules around partnerships and the drawing and capital accounts, and closing process must be followed which can prove to be complex depending on the size and nature of your business.
We can also advise on the withdrawal of an individual from a partnership, the inclusion of a new partner into the partnership, the buyout of partners and the sale of the partnership as a whole.
As a partnership is made of individuals it is often the case that we advise each of the individuals involved as private clients, providing our range of services in helping to reduce personal tax liability and plan accordingly for their futures.