| |
What is a Partnership? |
|
In This Section
Business Formation
Sole Trader
Partnership
Limited Company
Limited Liability Partnership
Other Sections
Home
Starting a Business
Franchising
Buying a Business
Business Formation
Business Finance
Organising your Business
Business Marketing
About CYB
|
Partnerships are where two, or more people set up in business together.
|
|
The risks and rewards are shared between all the partners, and should one partner wish to leave or die, the partnership must be dissolved, although there is no reason why it can't be resurrected immediately. On the risk issue, again each partner is responsible for the debts of the partnership as a whole.
|
One of the benefits of partnerships, is that there are others involved in running the business and sharing the workload (hopefully!).
Once again, all business partners will need to register with the Inland Revenue as self employed. |
|
Declare that you are Self-Employed
Make sure you declare that you are self employed by completing the form CWF1 using this link here: http://www.inlandrevenue.gov.uk/forms/cwf1.pdf
Remember, even if you earn money by buying and selling on ebay in addition to your normal employment you still need to register with the Inland Revenue.
|
|
|
|
