Partnership tax is one area where your adviser needs to consider the interplay between many different taxes. It can require income tax, corporation tax, capital gains tax, inheritance tax and stamp duty land tax planning in one single piece of work.
Weighing up the advantages which can be achieved for one tax, and the disadvantages for another, is key to ensuring that the most tax efficient, practical and suitable approach is pursued. Our tax team strive to ensure that the whole picture is considered from the outset and throughout the tax advice process.
Working with our experienced Partnerships & LLPs team, our tax team provide bespoke tax advice to new and existing partnerships on an ongoing or one off basis.
This may involve partnership structure advice, the retirement of a partner, or the dissolution of a partnership, all of which could require consideration of the most tax efficient profit extraction. Increasingly we are advising on complex hybrid partnerships featuring corporate and non-UK based partners.
We work closely with our clients and with their other advisers to ensure that our advice is "joined up".
They're very smooth, always keep in contact, and there's no sense that time or money are being churned.