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Professional Partnerships

Professional practices face many pressures from new regulations, increasing competition and clients demanding more for less. With so many changes sweeping the professional services sector, getting the right advice when you need it, from advisers who understand your business and sector, can make the difference between success and failure.

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Why haysmacintyre?

Our partners have real experience of running a business with some of our team holding management board positions so we understand the challenges you face.

We can help you strengthen your financial position and your reputation, by controlling your costs and risks and making sure you take advantage of new opportunities. As well as benefiting from our technical knowledge, it can also be hugely useful to have the insight from other experienced managing partners of a growing firm.

Our clients include solicitors, barristers, surveyors and architects, and we have worked with many of them for a long time as their trusted advisers. They value our openness and proactive service and are happy to recommend us. In fact, much of our business comes from referrals.

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Whether you need support in dealing with the day-to-day running of your partnership, such as accounts, cash flow and tax advice, or expertise on specific issues, such as acquisitions and mergers or succession planning, we will be very pleased to help.

We can tailor our advice to meet the needs of your practice and your partners. Our services include:

  • Audit and accounting
  • Tax compliance including partnership tax and VAT
  • Solicitors’ Accounts Rules reviews
  • Remuneration strategies to reward and incentivise staff
  • Performance improvement and benchmarking
  • LLP status
  • Taxation planning and investigations
  • Personal tax planning and wealth management
  • Business valuations
  • Mergers and acquisitions
  • Business structures, including limited liability partnerships; incorporation and partnership re-structuring
  • Succession planning

LLPs: HMRC’s new salaried members rules guidance on capital contributions

HMRC has recently changed its guidance on the Salaried Members’ Rules, and specifically on how it believes the three conditions in the disguised remuneration rules should be applied to fixed share members.

Webinar: Salaried Members’ Rules Changes – Key Considerations for LLPs

Join our Partnerships and Employment Tax teams for an insightful webinar who will discuss the changes to HMRC’s guidance, the risks to LLPs and the actions LLPs and their members should be taking now.

Partnerships Tax

Whether your organisation is a traditional partnership, an LLP or LP, we provide tailored tax advice and compliance services to turn tax planning into a strategic advantage for your partnership.

I have used haysmacintyre for a number of years both on compliance and advisory assignments and have always found them to be responsive to any queries and happy to go that extra mile to think round the issue and come up with a solution.

Director, Owner

Corporate Organisation
Private Client

Partnerships with corporate partners eligible for full expensing

Partnerships play a crucial role in the UK’s business landscape as they offer shared responsibilities and flexibility among members and are often a blend of individual and corporate members (i.e., a company is a member).

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Private Client

The importance of a partnership agreement

The only legal definition of a partnership is where there are “persons carrying on a business in common with a view to profit”. There is often a fine line between whether there is a joint venture or a partnership between parties (unless set up formally such as a limited liability partnership (LLP) or a limited partnership (LP)), and it is not uncommon to find that people have been trading in a partnership without realising it.

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Private Client

Transitioning from employee to partner

There are a few tax issues to be aware of when transitioning from an employee to a partner. The below details the scenario of your tax position as an employee and what it would mean for you becoming a partner. If you are a Limited Liability Partnership (LLP) member, all comments below are subject to you being treated as self-employed for Income Tax and National Insurance (NI) under the Salaried Member Rules.

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Awards and Accreditations

Accounting Excellence Large Firm of the Year 2023
eprivateclient top accountancy firm 2023

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