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Freelancers joined up in Partnership
Hiya,
I'm new to this site and think it is great!
Brief intro to our situation...
Both me & my sister are freelance graphic designers. I originally was freelance and my sister was a fully employed graphic designer. She went on maternity leave from her job but then decided to leave to go freelance like me. I then fell pregnant with twins so she took over most of my contacts of work & umbrellered under my company name (I'm a soletrader). I am now starting to take on small jobs etc and will slowly start to take on more work.
We have now registered as a Partnership and staying under the original name that I worked under, we are just rebranding etc at the moment. We are just implementing a few things ie order forms to be signed, terms & conditions etc. Where can we find basic info/templates for this?
Our main problem as well, how do we split or work out payment for ourselves? has anyone else worked in a partnership? could anyone advise?
Any extra tips or advice for working in a small partnership would be great!!
Many thanks
Jo & Nicki
I'm new to this site and think it is great!
Brief intro to our situation...
Both me & my sister are freelance graphic designers. I originally was freelance and my sister was a fully employed graphic designer. She went on maternity leave from her job but then decided to leave to go freelance like me. I then fell pregnant with twins so she took over most of my contacts of work & umbrellered under my company name (I'm a soletrader). I am now starting to take on small jobs etc and will slowly start to take on more work.
We have now registered as a Partnership and staying under the original name that I worked under, we are just rebranding etc at the moment. We are just implementing a few things ie order forms to be signed, terms & conditions etc. Where can we find basic info/templates for this?
Our main problem as well, how do we split or work out payment for ourselves? has anyone else worked in a partnership? could anyone advise?
Any extra tips or advice for working in a small partnership would be great!!
Many thanks
Jo & Nicki
- Contact in PM
simonsjdaccountancy
Messages count : 23Likes count : 0Registration : 29 November 2006Hi,
The good news is that a partnership is very flexible meaning that you can change the partnership shares as often as you wish, so you can correctly allocate the profits to either one of you, depending on who is doing the work. You should leave around 30% aside for your tax liabilities (this may well be an over estimate depending on your level of earnings), teh rest can be drawn as you wish.
Hope this helps
JoeyW, post: 12428 a écrit : Hiya,
I'm new to this site and think it is great!
Brief intro to our situation...
Both me & my sister are freelance graphic designers. I originally was freelance and my sister was a fully employed graphic designer. She went on maternity leave from her job but then decided to leave to go freelance like me. I then fell pregnant with twins so she took over most of my contacts of work & umbrellered under my company name (I'm a soletrader). I am now starting to take on small jobs etc and will slowly start to take on more work.
We have now registered as a Partnership and staying under the original name that I worked under, we are just rebranding etc at the moment. We are just implementing a few things ie order forms to be signed, terms & conditions etc. Where can we find basic info/templates for this?
Our main problem as well, how do we split or work out payment for ourselves? has anyone else worked in a partnership? could anyone advise?
Any extra tips or advice for working in a small partnership would be great!!
Many thanks
Jo & Nicki