Category: Business Structures
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Set up and register a partnership
This guide looks at the requirements that ordinary partnerships have to meet. A partnership is a relatively simple and flexible way for two or more people to own and run a profit-making business together. Social enterprises and other non-profit making organisations should not use this business structure. Unlike the shareholders in a limited company, the…
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Set up and register a limited partnership
A limited partnership is a business structure which has both general and limited partners. General partners are liable for the full amount of the partnership’s debt, whereas limited partners are only liable for the debts or obligations that they initially invest in the business. There may be benefits for running your business as a limited…
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Set up and register as self-employed
Setting up as a self-employed sole trader is the simplest and quickest way to start a business. There isn’t much paperwork to do. There are no registration fees to pay, but you must register with HM Revenue & Customs for tax and National Insurance purposes. Record keeping and accounting is straightforward, and there are the…