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Clubs and Societies
If you manage the finances of a small club or society, you might occasionally need some assistance and guidance. Black and White Accounting are available to assist. Our professional accounting for clubs and societies services are here to assist you to stay on top of your budgets, managing your cash for activities, and managing your receipts and payments for the accounting for your club or society.
What taxes do partners pay
Partners pay three different taxes to HMRC based upon their share of profits:
- Income tax – based upon a percentage of how much your share of the profit is;
- Class 2 National Insurance contributions – a fixed fee each week; and
- Class 4 National Insurance contributions – also based upon a percentage of how much your share of the profit is.
Partnerships are not liable to any profit-based taxation themselves although they may be liable for other forms of tax which we cover below.
Tools and resourcesConfused?
We understand that for many businesses having to grapple with accountancy, bookkeeping and finances can be a real headache, forcing your focus away from your passion. With over twenty years of experience together our dedicated team of industry professionals is happy to help clear things up.
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Get in touch
We’re all about making things as clear and as simple as possible – get in touch and find out how you can make a Black And White difference to your business accounting and finances.
Get in touch with us using the contact form below, tell us a little about yourself and put your mind at ease.
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Our friendly team is on hand to answer any of your queries. We will contact you within 24 hours to discuss your requirements and give an indication of pricing. Alternatively, you can contact us via phone or email using the details provided below:
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INSIGHTS
Unearth useful news & insights for your business
We believe that information about how businesses can operate smoothly and efficiently as they can, should be available to everyone – our insights are here to help you succeed.
LATEST INSIGHTS
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The Hidden Costs of Running a Business: What You Need to Know
When you start a business, you often think about the obvious expenses: rent, salaries, inventory, and marketing. However, many entrepreneurs overlook the hidden costs that can significantly impact their bottom line. Understanding these hidden expenses is crucial for effective budgeting and long-term success. At Black & White Accounting we are here to unlock these secrets…
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Common Accounting Mistakes: Mixing Personal and Business Finances
If you’re an ambitious business owner, your days are packed with decisions, deals, and deadlines. With so much on your plate, keeping personal and business finances separate might seem like an unnecessary hassle. But trust us—mixing the two is a financial disaster waiting to happen. At Black & White Accounting, we’ve worked with fast-growing businesses…
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I Can’t Pay My Self-Assessment Tax by 31 January. What Do I Do?
Struggling to pay your self-assessment tax bill by the 31 January deadline? Don’t panic—you’re not alone, and there are options to help you through. At Black and White Accounting, we’re here to guide you through this, one step at a time. Let’s dive into what you can do if you can’t pay on time and…
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