Your Total Guide To Business

Why should I use an LLP#AskAMS

A Limited Liability Partnership (LLP) is safer than a typical Partnership, just as a Limited Company is safer than a Sole Trader business.

Safer because: The advantage an LLP has over a Partnership is that partners in LLPs are not personally responsible for the LLP’s debts. The business debts of the individual are ‘limited’ and their personal assets are safeguarded just as in a Limited Company.

Tax savings: Since December 2013 and the Mixed Partnership Rules, neither normal partnerships nor LLP’s are generally as tax efficient as Limited Companies. However, there is usually more flexibility in how you pay individual partners through either a partnership, or LLP, compared to a Limited Company.

https://www.ams-accountancy.co.uk/blog/why-should-i-use-an-llp/

Doubletree by Hilton Swindon (Animated Ad)

We recommend

Can I claim my new computer as a business expense?#ASkAMS

If you buy a computer and use it in your business, it is the norm that the cost is at ...

Are there benefits in being VAT registered?#AskAMS

There are generally two reasons to register for VAT:

What expenses are not deductible for tax purposes?#AskAMS

Here is a list of certain expenses that aren’t tax deductible – but which regularly get claimed, or questioned, by clients:

Should I set up as a Sole Trader for my new business?#AskAMS

Not necessarily, a Limited Company can result in you paying less tax and - while a Company owner might lose ...

You must register for VAT when the turnover reaches £85,000#AskAMS

You should talk to an accountant urgently! If at any point during a 12 month period, (good to review ...

How to form/start a company#AskAMS

There are a number of stages to go through – and I would recommend seeing an accountant as early in ...

Starting up as a landlord – Tax issues to consider#AskAMS

When starting up as a landlord there are a number of issues and tax implications to bear in mind:

VAT reverse charge for building and construction services#AskAMS

On 1st March 2021, the VAT reverse charge for building and construction services comes into effect for VAT registered businesses ...

What is a House in Multiple Occupancy (HMO)?#AskAMS

HMRC’s definition is “a property rented out by at least 3 people who are not from 1 ‘household’ (for example ...

South Swindon Parish Council (2025 Animated Ad)

Unscrewed Systems Network (Leaderboard Ad)

Let's Talk

Why should I use an LLP#AskAMS

A Limited Liability Partnership (LLP) is safer than a typical Partnership, just as a Limited Company is safer than a Sole Trader business.

Weather in Wiltshire