Formation Company research

April 21, 2009 at 6:28 pm Leave a comment

Set up and register a partnership

We have been looking for business bank accounts and to open an account we need to register the company to either a limited or partnership.

We need to make sure we have done surtain things.

Checklist: setting up a partnership

In order to set up business as a partnership there are certain things you need to do – some must be done as a group and others as individual partners. You should:

>Display all the partners’ names at all your business premises together with the address to which official documents should be sent.

>Display all the partners’ names on your business website and stationery, including letters, invoices, receipts and cheques along with your principal place of business. If the partnership has more than 20 partners you need only display your principal place of business.

>Register as self-employed with HM Revenue & Customs (HMRC). This must be done by each individual partner.

>Contact HMRC to register your partnership’s existence and register for VAT if you expect a turnover of more than £67,000 a year.


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