1. Set up the partnership

When you set up a business partnership you need to:

  • choose a name
  • choose a ‘nominated partner’
  • register with HM Revenue and Customs (HMRC)

The ‘nominated partner’ is responsible for managing the partnership’s tax returns and keeping business records.

The rules are different for limited liability partnerships and limited partnerships.

Naming your partnership

You can use your own name or trade under a business name - read the rules for naming your partnership.

You must include all the partners’ names and business name (if you have one) on official paperwork, eg invoices and letters.