Partnerships for start-ups
If you want to start a business venture with one or more individuals, there are two options to do this. One way is to set up a limited company and the second is to form a partnership. A partnership is a flexible arrangement and comes with many advantages.
A partnership structure can take many forms, for example, it can include partners who are taxed as self employed and can also hold "corporate members", i.e. limited company(s). This means a company can use cash to "invest" into a partnership trade. Partnerships are transparent for tax purposes, this means, a trading partnership does not pay tax, it is the partners/members that pay tax (or share tax losses) according to the partnership agreement.
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