Services
Our Services
Accountancy
Our services cover everything from monthly Book-keeping through to Year-End Accounts and everything in between.
Taxation
Castlemaine Associates brings together a group of professionals whose main aim is to ensure personal and business clients minimise their Tax. With the top rate Income Tax currently at 45% and National Insurance at its highest level, there has never been a greater need to ensure your Tax affairs are being dealt with efficiently and that all allowances and reliefs are claimed.
We can offer support in the following key areas:
- Personal Tax
- Capital Gains Tax
- Inheritance Tax
- Value Added Tax
- Tax Planning
- Tax Compliance
- Self-Assessment
- Advising on Disclosure
- Tax Enquiries & Investigations
- Representing clients before Tax Tribunals
Our Products
Limited Company - From setting up your limited company to completing your accounts and self-assessment, our accountants and award-winning software will make running your company easy and stress free.
Payroll - Ensuring your employees are paid accurately and on time is one of the most important aspects of running a business. Whether you employ one person or one hundred, Castlemaine has a cost effective and dedicated service to suit your needs.
Umbrella - Castlemaine is the perfect option for anyone providing their services via an agency or on a contract basis. Our fast, efficient umbrella service will ensure you receive your money after all the correct deductions have been made giving you complete peace of mind.
Partnerships - With the upcoming changes to IR35 we believe our market leading partnerships will become the most effective way to operate for contractors. Whilst this has traditionally been a less common vehicle for contractors, the upcoming changes make this an attractive option for anyone looking to provide their services to an end client.
PARTNERSHIPS
What is a Partnership?
A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.
There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability. There also is the so-called silent partner, in which one party is not involved in the day-to-day operations of the business.
In a broad sense, a partnership can be any endeavour undertaken jointly by multiple parties. The parties may be governments, non-profit enterprises, businesses, or private individuals. The goals of a partnership also vary widely.
Within the narrow sense of a for-profit venture undertaken by two or more individuals, there are three main categories of partnership: general partnership, limited partnership, and limited liability limited partnership.
A General Partnership
A General Partnership is formed under the 1890 Partnership Act when two or more people carry out a business in common with a view to profit.
The default rule is equality between all members and the only way to change this is through a formal written agree mentor deed. All partners possess an equal voice in the management and the authority to act as agent for the partnership and all partners are jointly (and severally) liable for all the liabilities of the partnership.
A Limited Partnership
A Limited Partnership is formed under the 1907 Limited Partnership Act by two or more persons whose purpose is carrying on a business in common with a view to profit.
Limited Partnerships must have at least one general partner who manages the business and at least one limited partner who doesn’t participate in the operations or management of the business and who’s liability is limited to the capital he/she has contributed to the partnership.
A Limited Liability Partnership
A limited liability partnership (LLP) is formed under the Limited Liability Partnership Act 2001 and is widely used by professional firms.
An LLP combines the benefits of corporate status (i.e. having a legal personality separate from its members) with the protection of limited liability for members.
The best way to understand an LLP is as a combination of a partnership and a corporation. Forming an LLP means you’ll enjoy the same liability protections afforded to corporations and will also have the flexible operations that are the main benefit of a partnership. While a partner in an LLP can still be held liable for their own negligent actions, they will not be liable for the actions of anyone else in the business.
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