Partnership taxation

Partnerships and LLPs are subject to very specific tax rules and it’s important that individual partners are confident they have the right financial advice. 

The current HM Revenue & Customs self-assessment regime places an increasing compliance burden on individual partners, while complex rules surrounding partnerships require the expertise to navigate often onerous tax obligations.

We know that partners often find it difficult to devote sufficient time to their own personal financial affairs. We can help with a wide range of issues including identifying appropriate tax and financial planning opportunities, assisting with the information needed for tax compliance purposes and developing a personal financial strategy for individual partners.

 

Meeting your needs

Specialist

Our highly experienced team of tax professionals will manage the partnership’s tax liabilities and explain the tax position in a clear, coherent manner.

Bespoke

You’ll get a very personal service tailored to the precise needs of your partnership that balances the interests of the firm and individual partners.

Holistic

Our in-house colleagues include an experienced professional practices team who can provide you with a range of services where required. 

 

How we can help

  • Compliance: Helping with the partnership and partners’ tax returns, advising on tax payments and liaising with HMRC.
  • Structuring: Advising on the structuring of, for example, onshore and offshore expansion and/or acquisition.
  • Financial education: Holding regular compliance clinics for partners, as well as identifying tax and other financial planning opportunities.
  • Counselling: Providing expert wealth management advice from our investment and pension teams to develop a personal financial strategy tailored to each partner’s specific needs and goals.
  • Succession planning: Providing specific advice to new partners on the opening year rules and assisting with exit strategies for retiring partners.
  • Reserves: Liaising with the partnership to ensure accurate tax reserves are maintained for each partner.
  • Overseas: Helping with international structuring and advice for partnerships and partners with overseas interests.

 

Our credentials

Longevity

We’ve been advising professional practices on their tax affairs for numerous years.

Experience

Our partners have an average of 20 years’ experience.

Scale

We help over 5,500 clients, including over 800 non-domiciled clients and more than 350 partnership clients.

Contact us

Joss Dairymple profile image
Joss Dalrymple

Head of Private clients interests London +44 (0)20 7131 4297

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