help with setting up correct business type

[TedOfTheLowerMeadow]

morning all. after some advice please.

the wife & I are looking to set up a farming partnership account.

we just have a little small holding. a few animals. and a rental holiday cottage etc


we have an unrelated construction business.... and our accountants have advice that it may be advantageous for us to have a farming partnership business setup.

any pointers with respect to which version of a business we should look at?


thanks

 

[Tarw Coch]

morning all. after some advice please.

the wife & I are looking to set up a farming partnership account.

we just have a little small holding. a few animals. and a rental holiday cottage etc


we have an unrelated construction business.... and our accountants have advice that it may be advantageous for us to have a farming partnership business setup.

any pointers with respect to which version of a business we should look at?


thanks

Hmmm, my thoughts, if your accountant has told you that much they should have gone on to advise you exactly what you should do, don’t know what your accountant is like but mine would be the first I’d go to for advice on such matters

 

[TedOfTheLowerMeadow]

I didn't say they'd not advised.

I was looking for alternative opinions and experiences.

Hmmm, my thoughts, if your accountant has told you that much they should have gone on to advise you exactly what you should do, don’t know what your accountant is like but mine would be the first I’d go to for advice on such matters

 

[Tarw Coch]

I didn't say they'd not advised.

I was looking for alternative opinions and experiences.

Fair enough, no harm looking for a second opinion

 

[Nearly]

LLP 's seem to be in fashion at the moment.

 

[Roger Perry]

Fair enough, no harm looking for a second opinion

Over here in U.S. we use what are called LLC's (Limited liability Company) the advantage is that it kind of throws a ring fence around the venture so that it cannot impact the other portions of a larger business.
Maybe your LLP is the same thing.?