LLPs, Partnerships and Sole Traders
LLPs and Partnership Tax
LLPs and partnerships face very specific issues relating to tax, particularly in the following areas:
- Profit share agreements
- Ownership of partnership assets
- Rules relating to incoming and outgoing partners
We can assist LLPs and partnerships with compliance issues and also with the more complex matters that concern the firm and the relating tax burden for the partners. Typically our clients include solicitors, chartered surveyors and pension advisors.
Financial Accounting for Sole Traders
Businesses need peace of mind that their tax situation is being managed.
We will prepare the accounts and tax return for a business and advise on how to report losses.
As with all tax situations, beyond compliance, tax matters can be more challenging. For example, buying and selling a business, rollover relief, managing risk - these are all areas in which we can help a business.
Please contact one of our team for advice and guidance or refer to our Business News for comment and discussion.
At Mercer & Hole our Licensed Insolvency Practitioner Partners and Directors have assisted with the financial restructuring of many financially distressed businesses struggling with cash flow problems or facing threats from creditors.
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