The financial implications of becoming a partner

Becoming a partner of a professional practice is a significant milestone in any career. While it’s an achievement to celebrate, the tax and financial responsibilities it entails can be a daunting prospect and can quickly become very confusing.

Whether you’ve just made partner or have been a partner for a while and would like to refresh your tax and financial knowledge, our webinar will help you understand the financial commitments and personal wealth management aspects of joining a professional partnership.

We discuss:
3:49 – Salaries compared with profit shares and drawings – how partners are remunerated differently to employees
06:25 – Capital requirements – understanding how to obtain funds to input capital into the business
26:46 – Your pension, benefits and expenses – explaining the changes when becoming a partner
35:04 – Tax considerations – understanding how to complete a tax return, when tax payments are required and other useful information on how partners are taxed differently to employees

If you have any questions or if you are looking for more information, please get in touch:
www.buzzacott.co.uk | +44 (0)20 7556 1200 | enquiries@buzzacott.co.uk

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