As a Sole Trader who runs their own business it is likely that you're very busy and have very little spare time. This often means tasks such as tax and record/book keeping can sometimes be left to the last minute and rushed.
Here at Firmin & Associates we take the stress and pressure off ,leaving you with time to focus on growing your business - for as little as £20 (plus VAT) a month.
What is a Partnership?
A Partnership is a business owned and run by two or more people, with the partners sharing the profits according to the percentage they own.
Partnership tax responsiblities:
Legally Partnerships are required to:
Keep accurate records of all income and expenses,
Some business will be required to keep digital records to comply with the HMRC Making Tax Digital initiative,
Pay National Insurance and Income Tax on each partners share profits the partnership makes,
Send HMRC a partnership tax return every year,
Send HMRC tax returns for each partner every year,
Register for VAT if your turnover breaks the compulsory registration threshold.
Why Sole Traders choose us
Unlimited advice and support
All of our packages includes unlimited support and advice. Our accountants are always on hand to answer any questions you may have.
From the day you sign up you will have your own dedicated accountant as your point of contact. No call centres or being passed from pillar to post. Your accountant will be get to know your business inside out giving you a tailored and persoanlised service.
Although rare it is not unheard of that HMRC launch a tax inspection at random. In the event your affairs are selected for a tax inspection we will represent you at no extra cost.