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Posted Sun, 07 Jan 2024 23:08:45 GMT by Guy W
Hi officer, My wife and myself are both sole traders providing different consultancy services to clients. We plan to form a partnership to extend our client reach and also better utilise our resources. We have the following questions about forming the partnership. 1. We are currently sending invoices to our clients under our own name, After forming the partnership, could we still do that or we have to make up a business name and use that name in our invoices instead? 2. We receive payments from our clients into our own bank accounts. Could we still do the same in the future, or do we have to set up a joint bank account for the partnership to receive payments? Thank you.
Posted Fri, 12 Jan 2024 13:21:05 GMT by HMRC Admin 20
Hu Guy W,
1. You should be issuing the invoices under the partnership name.  
2. You can still have payments made into your own bank account but it may be worth considering opening a business partnership account to keep track of all business income and expenditure.
Thank you.

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