Our latest Owner Managed Business (OMB) survey looked at the impact of the pandemic on businesses across the UK. Much of the optimism from last year has eroded, with many businesses now expecting their profits to be impacted by the rising costs across the U.K.
The Partnership Act 1890 defines a General Partnership, otherwise commonly known as an Ordinary Partnership or Business Partnership, as two or more individuals ‘carrying on a business in common with a view of profit’.
Key highlights from the Chancellor's Autumn Statement.
In preparation for the introduction of Making Tax Digital in April 2024 there are significant changes to the way profits from self-employment and partnership profit shares (including LLPs (Limited Liability Partnerships)) will be taxed from April 2023.