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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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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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Budget 2022 – Detailed Summary
The Chancellor of the Exchequer, Rishi Sunak, today announced changes to income tax, fuel duty and National Insurance in his 2022 Spring Statement, with a backdrop of forecast growth of 3.8% this year, eroded by forecast inflation of 7.4% this year and spend of £83b on debt interest alone. And this is before the full…
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Budget 2022 – Key Headlines
With a backdrop of forecast growth of 3.8% this year, eroded by forecast inflation of 7.4% this year and spend of £83b on debt interest alone, The Chancellor of the Exchequer, Rishi Sunak, today announced changes to income tax, fuel duty and National Insurance in his 2022 Spring Statement. However, many may find themselves somewhat…
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What protection do you have against a HMRC enquiry?
Each year HM Revenue & Customs (‘HMRC’) undertake an enormous number of tax enquiries into individuals and businesses to check they have paid the right amount of tax, both on a random and a selective basis. Since 2010 HMRC have strengthened their approach from this point of view and the general trend has been a…
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