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Help, I need to form a business or partnership!

If you need to form a Sole Tradership or Partnership (without limited liability) you will need the following:

- A business name name,
- Bank account,
- tax registration,
- a partnership agreement if more than one person involved,
- website if required,
- managerial advice

Register now with FIXMYTAX.com and we will organise the paperwork and in business!

To register as a new client ... click here

Partnership Act 1890 (for businesses)

The Partnership Act of 1890 is the most compact piece of legislation ever written by virtue of its range and content and is still a benchmark despite recent changes.

Anybody proposing to set up a business partnership is recommended to take cognisance of the basic provisions. If you do not have a written partnership agreement between the parties then the Partnership Act 1890 automatically applies.

(Note that the Partnership Act 1890 is subject to legislation enacted since 1890 and legal advice is recommended to ensure that all your issues have properly dealt with.)

Download the Patrtnership Act 1890 click here..

Exit Strategy, Property Assets and the Succession Act!

If you buy a property jointly with another person or persons it is important that you draw up an agreement that takes care of how the ownership of the property if one of the parties:

a) wants to cash in their interest in the asset or

b) is deceased

c) wants reaise finance and redevelop the asset

d) become a sleeping partner

It is very important that the remaining individual has a clear structure to follow and is not saddled with a disagreeable party whom they cannot have cordial relations with and is unable to resolve the situation of the assets as a result.

In particular it is important to set down rules govening the option for the remaining partners to purchase the interest of the retiring partner or from the estate of a deceased partner. 

Also it is important to set down rules govening the development of the asset and the raising of finance to do same. 

Would you like to prepare an strategy and programme for dealing with the assets of the business under various scenarios...click here




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Testimonials

"I run my own business and after years of struggling with a demanding home life and a hectic work schedule I reached a situation whereby I was functioning poorly with both. I’d missed a couple of VAT payments and had intended to catch up at the end of the year. I missed my own deadlines and tried again to catch-up in the following year. Business became a stressful job of ‘fire-fighting’ each day’s demands, eventually pushing the issue of outstanding taxes out of my mind as much as possible, in order to concentrate on work.

That said, you always know in the back of your mind that these things don’t just go away and that it was just a matter of time before ‘they’ catch up with you. 

After a few years of letting my compliance payments slide altogether, the Revenue made contact with me and gave me an estimate of all PAYE, VAT and tax owed over the years – which ran to over 6 figures- and they wanted the money immediately. I knew I was in big trouble and looked in the Golden pages for an accountant who could help me. The name www.fixmytax.com jumped out of the page and I made contact. I was immediately reassured that they could help me. I was asked for “every bit of paper” concerning the office and all old Revenue correspondence.

The first thing fixmytax.com was to do was make contact with the Revenue on my behalf and assure them that they were handling the situation and that the liabilities were being established, even though it would take time. That took the immediate ‘knock-at-the-door’ shock and worry out of the situation. The coming weeks were spent only dealing with fixmytax, (not the Revenue) answering the odd question by phone and filling in more information for the accountant. Even though this was routine information, I was quite reassured by the fact that they were working on the whole Revenue mess and actually sorting through it for me. This took the panic and stress out of the situation and enabled me to concentrate on work. After a few weeks, accounts and figures had been prepared, which I went over with the accountant.

The accountant had dealt with the Revenue directly on my behalf and he saved over 60% off the original tax bill.

Throughout the process, the fixmytax accountant was hugely supportive to me, dealt directly with the Revenue, reduced the original tax bill considerably and most importantly, had taken the fear out of the situation and given me peace of mind knowing that good progress was being made with the Revenue, rather than hiding from it all.

The cost? Approximately 7% of the money SAVED on the original tax bill!

My Revenue mess caused me huge amounts of anxiety all the time I did nothing to resolve it. In dealing with fixmytax, they took control of the situation and proceeded to do what had to be done. I would not hesitate to recommend them to anyone worried about any aspect of taxation and financial planning for a business.

I now have a good relationship with the Revenue, fixmytax looks after not only the basics of compliance, but also the financial planning and regularly reviews the performance of the business. My business is now stronger and more focussed that ever before simply because of the level of ongoing collaboration and support that I have with fixmytax. They are the proverbial “good accountant” that every business needs.

My most valuable lesson in dealing with fixmytax is that it is far more productive and far less stressful to get a good supportive accountant to do what they do best, leaving me free to do business. Thanks, Patrick!

Satisfied Client, name and address with firm. 

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