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If you are looking to form a partnership to run your new business, then you have come to the right place. The Company Warehouse is more than just a company formation agent. We also offer services for other kinds of business formation. One of those is designed to help those people interested in forming a partnership.
Despite the massive numbers of limited companies formed in the UK each year, many people still choose to form a partnership instead. There may well be many reasons why people choose to form a partnership rather than another legal form, but the most common include the ease of setting up, the flexibility of formation and running and of course the nature of the business itself. People agree to go into business as partners and necessarily automatically think that forming a partnership is the best option. Depending on their circumstances it might well be the sensible choice. Forming a partnership allows the use of sleeping partners, investing in the business but otherwise having no involvement open involvement in the running. This can be helpful to new businesses giving it the necessary funding. Companies too can be partners in a partnership.
Partnerships are subject to higher tax rates than limited companies. Depending on the turnover of the business, this could be a real downside. Which is why it is a good idea to consider the advantages and disadvantages before jumping head first into forming a partnership.
For those individuals not seeking to set up a limited company but wishing to take advantage of the freedom offered by forming a partnership instead, then our Limited Liability Partnership formation service is ideal. A limited liability partnership allows people to take advantage of the protection offered by limited liability while at the same time, enjoying the freedoms of the partnership form. Take a look at our Limited Liability Partnership page for more information or contact a member of our formation team on 0800 0828 727.
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