What type of company is most suitable for an accountant?

0

I’d like to get together a few colleagues for a new accounting firm. Is there any particular type of company that would make the most sense for us to incorporate as? I understand there are quite a few different structures, but don’t really know which one suits accountants.

Answers

0

The most commonly-used company structure for accountants is a Limited Liability Partnership. It is exactly the same as a traditional partnership in terms of tax and flexible management structure, but it has added bonus of providing financial protection to each member (LLP partner).

This means that you will not be held legally accountable for the total sum of any business debts, unlike the partners of a traditional partnership. You and the other members will only be liable for the amount you contribute or guarantee to the LLP.

You can also operate as a private company limited by shares, but this structure is not as commonly used by accountants and other professional services firms.

a year ago
 

Your answer

 

Browse other questions tagged #company-types or Ask a new question