Ordinary Partnership
Packages
Package 0 – Annual:
– Partnership Accounts + 2 x Partner self-assessments
– Additional fee per additional partner
Package 1 – Monthly:
– Package 0 PLUS
– Quarterly Bookkeeping Review which includes a tax estimate
Package 2 – Monthly:
– Package 1 PLUS
– Monthly Payroll preparation & Submission
OR
– Quarterly VAT Returns
Package 3 – Monthly:
– Package 1 PLUS
– Monthly Payroll preparation & Submission
AND
– Quarterly VAT Returns
All rates valid for all 12 month contracts taken out & started by 31 December 2024
Checklist
– Obtain Individual UTR from HMRC
– Set up a business bank account
– Complete the checklist with ICO for GDPR
– Business Insurance
– ALL partners are registered for self-assessment with HMRC & have UTR
HMRC Gateway account:
> Activate PAYE if required
> Activate VAT if required
> NEVER share Gateway login details
VAT Threshold £90,000 in a rolling 12-month period
Do I need PAYE:
> ONLY if you are employing other members of staff that are NOT members.
When do I need to register?
> Date partnership started
> Next April 5th
> Register by October 5th following the April 5th above
> Deadline is October 5th