- Original Poster
- #1
Hi all, I'm getting myself very confused at the moment as to which type of partnership to register for and would appreciate some opinions!
My wife and I set up a taxi company, two cars at the moment but expanding. From the outset I maintained that we would have no finance, owning everything outright which means the only regular bill is the insurance. Never say never, but due to the set up it's highly unlikely that there will ever be any debt associated with the company, as there's nothing owing.
So, I'm inclined not to register it as a limited, and I wondered if someone could advise of any pros that a limited liability may have over an ordinary partnership.
Lastly, on the gov websites it states that ordinary partnerships can't use names of local limited companies... that's not an issue, but does an ordinary partnership have any name protection that a lol has?
My wife and I set up a taxi company, two cars at the moment but expanding. From the outset I maintained that we would have no finance, owning everything outright which means the only regular bill is the insurance. Never say never, but due to the set up it's highly unlikely that there will ever be any debt associated with the company, as there's nothing owing.
So, I'm inclined not to register it as a limited, and I wondered if someone could advise of any pros that a limited liability may have over an ordinary partnership.
Lastly, on the gov websites it states that ordinary partnerships can't use names of local limited companies... that's not an issue, but does an ordinary partnership have any name protection that a lol has?
