The working relationship in a traditional partnership is based on trust. What is important for the partnership is important for each partner. You are "jointly and severally" responsible as the legal profession would say, meaning the any one of you can end up carrying the can for the whole partnership.

An LLP is best explained as a crossbreed between a limited company and a partnership. It is separate legal body and can carry its own debts, which can be seen as an advantage. In practice, of course, limited liability of any variety is at the kindness of the banks. Whether your business is Limited or LLP your bank is going to want directors/members loan guarantees anyway. An LLP offers some form of ultimate protection against uninsured legal damages. 

    * year end accounts
    * VAT
    * PAYE
    * nominal and other ledger work
    * routine book keeping at your premises or ours
    * cash flow analysis and forecasting
    * financial planning, business plans, project accounting and growth modelling



    * partners remuneration
    * cars and other benefits
    * personal assets separate from the partnership
    * mortgages and pensions (through our affiliated Independent Financial Advisor)
    * property and other investment portfolios