Partnership tax services
We have a unique expertise outside of London when it comes to dealing with the tax affairs of professional practices. For many years our two founding Partners ran the tax affairs of a large actuarial partnership. We can deal with the most complex partnership structure imaginable and we understand the nuances from an in-house and an external adviser perspective.
Our services to Professional Practices
- Preparing the partnership’s tax computation based on the firm’s accounts, including liaising with auditors and finance committees as required
- Preparing the partnership’s tax return and partner statements
- Preparing each individual partner’s tax return
- Calculating partner tax provisions for the firm’s accounts and liaising with the firm’s finance department
- Making payments to HMRC on behalf of individual partners and providing partners with appropriate reconciliations and support
- Dealing with P11d’s for all employees
- Dealing with all implementation of partner remuneration and partnership capital issues
- Providing financial induction to new partners
- Dealing with financial projections and calculations for departing partners
- Providing discreet advice to partners on their personal taxes, remuneration and financial planning concerns
- Assisting the management and/or the HR team with calculations and advice on hiring and seconding partners and on partner departures
- Looking after the financial implications of expatriate moves within the firm
- Strategic partnership tax planning
- Tax cash-flow planning and forecasting
- Setting up and running trust arrangements to deal with deferred or bonus compensation
As a firm we look after a number of partnerships, ranging from 2 partners up to 100 partners and beyond.
We specialise in the completion of complex partnership tax computations, the allocation of profits to the partners, and providing assistance with reserving calculations.
“Tim, together with his partner Ian Ratcliff, advises me on both company and family tax issues and has always delivered a first class service at reasonable cost. His advice is exteremely sound and I get comfort from the fact that he is completely reliable and trustworthy. On a number of occasions his creative advice has saved me considerable amounts of money and I recommend him without reservation.”
Most of our clients are professionals who stay with us for a long time and we usually then act for the extended family or next generation. In one guise or another we have been tax advisers to many of our clients for over 15 years. Typically our clients have either a degree of complexity or wealth that drives them to engage a tax specialist as opposed to a general accountant or to risk doing the job themselves!
Get in touch
We pride ourselves in delivering the highest quality service to all of our clients, and in constantly striving to improve the range and nature of that service. If you have a question that we can help you with, please feel free to get in touch.