You can set up (‘incorporate’) an LLP (limited liability partnership) to run a business with 2 or more members / owners. A member can be a person or a company, known as a ‘corporate member’. Each member pays tax on their share of the profits, as in an ‘ordinary’ business partnership, but isn’t personally liable for […]
Partnerships are businesses owned by two or more people. Doctors, dentists and solicitors are typical examples of professionals who may go into partnership together and can benefit from shared expertise. One advantage of partnership is that there is someone to consult on business decisions. The main disadvantage of a partnership comes from shared responsibility. Disputes […]