Partnership Accounts
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Here at The Accountsmith we cover all types of businesses – for peace of mind, our fixed fee partnership accounts service is available to collate your business income and expenditure in order to produce your accounts and taxation liability. As with all the services we provide, we’ll complete the process by submitting your return to HMRC.
As a partnership your tax will be self-assessed, and you will pay tax on your profits. The starting point to calculate your profit and loss account is your business sales minus your business costs, however don’t forget some of the costs although they appear on your accounts are not allowed as tax deductible expenses. The Accountsmith team will guide you through the intricacies of allowable expenses to ensure your tax is calculated correctly.
For business partnerships in addition to your self-assessment a partnership tax return will also need to be submitted to HMRC.
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“ We have an enthusiasm for understanding your business. ”
The Accountsmith is about making accounting and tax understandable. Your accountant, Karen will take time to get to know your business and tailor a package, specific to YOUR needs.
Our sole purpose is to provide first-class information, analysis and advice that deliver exceptional value and empower business owners to build more successful businesses and achieve their individual goals.
Karen Hays
Effective Bookkeeping
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“ Over the years we have listened to comments from business owners such as I don’t understand what my accountant says, or I don’t know why my tax bill is so much, or even worse; I can't talk to my accountant! Here at The Accountsmith we like to do things a little different and a little less corporate, by offering a no frills accountancy service, delivering the right solution for YOUR business, whilst most importantly being approachable and offering a more personal service as the better we understand YOUR business, the better we can guide you to grow and be more successful.

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