Naming your partnership

You can trade under your own names, or you can choose another name for your business. You do not need to register your name. You must include all the partners바카라 사이트� names and the business name (if you have one) on official paperwork, for example invoices and letters. Business names Business partnership names must not: include 바카라 사이트榣imited바카라 사이트�, 바카라 사이트楲td바카라 사이트�, 바카라 사이트榣imited liability partnership, 바카라 사이트楲LP바카라 사이트�, 바카라 사이트榩ublic limited company바카라 사이트� or 바카라 사이트榩lc바카라 사이트� be offensive be the same as an existing trade mark Your name also cannot contain a 바카라 사이트榮ensitive바카라 사이트� word or expression, or suggest a connection with government or local authorities, unless you get permission. Example To use 바카라 사이트楢ccredited바카라 사이트� in your company바카라 사이트檚 name, you need permission from the Department for Business and Trade ( DBT ). Check which words you need permission to use, and who from . You바카라 사이트檒l need to register your name as a trade mark if you want to stop people from trading under your business name.

Register the partnership

You must register your partnership for Self Assessment with HM Revenue and Customs ( HMRC ) if you바카라 사이트檙e the 바카라 사이트榥ominated partner바카라 사이트�. This means you바카라 사이트檙e responsible for sending the partnership tax return. The other partners need to register separately. Register a partner or partnership All partners also need to send their own tax returns as individuals. You must register by 5 October in your business바카라 사이트檚 second tax year, or you could be charged a penalty. Example If you started a partnership or became a partner during the 2024 to 2025 tax year, you must register before 5 October 2025. Other ways to register You can also register the partnership using form SA400 if you cannot register online. You can register as a partner using form SA401 . Registering for VAT You must also register for VAT if your VAT taxable turnover is more than 拢90,000. You can choose to register if it바카라 사이트檚 below this, for example to reclaim VAT on business supplies. You can appoint an agent to deal with HMRC on your behalf. After you바카라 사이트檝e registered You바카라 사이트檒l need to keep records so you바카라 사이트檙e able to fill in:听听听 the partnership return - if you바카라 사이트檙e the nominated partner听听听 your individual Self Assessment tax return 听 - everyone in the partnership must do this听 The nominated partner should complete the partnership return as soon as possible, so the other partners are able to use this information to complete their individual Self Assessment tax return. Find out how to get help with your tax return. 听 You can send your return any time after 5 April to the filing deadline. 听听 If you send the partnership return late, each individual in the partnership will have to pay a penalty. You must then pay your Self Assessment tax bill by 31 January. Find out how to prepare for your bill .

Set up a business partnership

Setting up

In a partnership, you and your partner (or partners) personally share responsibility for your business. This includes:

any losses your business makes
bills for things you buy for your business, like stock or equipment

Partners share the business바카라 사이트檚 profits, and each partner pays tax on their share.

A partner does not have to be an actual person. For example, a limited company counts as a 바카라 사이트榣egal person바카라 사이트� and can also be a partner.

What you need to do

When you set up a business partnership you need to:

choose a name
choose a 바카라 사이트榥ominated partner바카라 사이트�
register with HM Revenue and Customs (HMRC)

The 바카라 사이트榥ominated partner바카라 사이트� is responsible for managing the partnership바카라 사이트檚 tax returns and keeping business records.

There are different rules for limited partnerships and limited liability partnerships (LLPs).

View a printable version of the whole guide

Set up a business partnership

Setting up

What you need to do

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Set up a business partnership

Setting up

What you need to do

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