Article Provided By GoSimpleTax The weeks leading up to Christmas bring a welcome sales boost to many British businesses, including a large proportion of the UK’s 3.1m sole traders. And although business owners will get a lot of extra festive cheer from selling more and increasing their annual sales revenue, it can bring additional tax-reporting […]

There are about 365,000 ordinary (alternatively called general) business partnerships in the UK, which is roughly 7% of the business population. Partners share personal responsibility for the partnership’s debts, while each year they pay tax on their share of the income they receive from the partnership. In addition, there are also almost 60,000 limited partnerships, […]