Partnership Advice & Issues
Taking on New Partners:
This guidance looks at the cost of employing a salaried GP, including National Insurance contributions and employer’s superannuation, the impact of the tax burden for existing partners earning over £100,000 and the benefits of taking on a new partner.
A partnership without a written agreement is a partnership at will, ie one which subsists at the will of the partners from day to day. This means that relations between partners are governed by the Partnership Act 1890. A partnership at will is an unstable business relationship as it can be dissolved on notice by any partner. For advice on partnership agreements please see the attached document.