Partnerships


The partnership is the primary non-corporate vehicle for individuals who conduct business on a joint basis. Individual partners are taxed on their income from a partnership as if they were self-employed.

A partnership does not actually exist as a legal entity in its own right: technically it is an amalgamation of individuals so when it conducts business it does this through its individual partners and not as a collective entity. Each partner acts as an agent for the others meaning that that each partner is effectively bound by the actions of the other partners.

Partners are also jointly and separately liable for the debts of their firm. The partnership is a flexible and very private, format which allows firms to decide how to organise internal management and profit sharing and is prevalent among of all kinds of businesses.

Announcements

April Payroll and RTI

File your monthly RTI reports for April payroll by 5th May and pay HMRC by 19th May.

Corporation Tax for Year Ending 31st August

If your year end is 31st August, the deadline for payment of corporation tax is 1st June.

Company Accounts for Year Ending 31 Aug

If your year end is 31st August, the filing deadline for your company accounts is 31st May.

P11Ds

Have you issued P11Ds to your employees? The filing deadline is 6th July and the payment deadline is 19th July.

P60s

Have you issued P60s to your employees?

May Payroll and RTI

File your monthy RTI reports for May payroll by 5th June and pay HMRC by 19th June.

VAT for Quarter Ending 30th April

If your last VAT quarter ends on 30th April the filing deadline is 31st May and payment is due by 7th June.

At B20 Wessex we are Chartered Certified Accountants with years of experience in advising businesses on how to maximise their company tax savings.

Company Accounts

The B20 Wessex Payroll Bureau offers a comprehensive range of services for your business at competitive rates. We offer our customers a comprehensive payroll service, supporting your business at the fraction of the cost of a full time member of staff.

Payroll Bureau

If you are in business as a sole trader you are personally responsible for your business activities. Talk to us for more information about sole trader responsibilities and advice on becoming a sole trader.

Self Assessment Tax Returns

As a chartered, certified accountant we are well qualified to help you prepare your management accounts on a regular basis, so that you can keep track of your business.

Management Accounts

Partners