Do general partnerships need to be registered?

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murphaph

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I'm trying to find some information about general partnerships. The CRO website limits itself to discussion of Limited Partnerships. Limited partnerships are governed by the 1907 Limited Partnership Act and clearly require registration and returns to be made. It makes a passing reference to General Partnerships in that they are governed by the Partnership Act 1890 and that's about it. There are three of us interested in forming a general partnership and information is scant. Any takers? Is registration of general partnerships wit the CRO or anyone else even required? I can't see how a general partnership can exist unless the CRO (or similar) hold documents which set out the rules of the partnership?
 
It is up to the individuals to set out the terms of the partmership agreement themselves. YOU can do this through your legal advisers.
You can register the business name of the partnership with the CRO Business Names Section on form RBN1A, but that only registers the business name, nothing else.
If you are going to be trading then registration with Revenue would be necessary on form TR1.
 
Thanks Graham. The partnership will hold property which is let out so will be trading. We will probably just use our true surnames and I believe this avoids the need to register a company name and we obviously don't need a catchy trading name in that line. My question centres around liability.....should the partnership run into difficulty, what proof is there that individual x is actually a general partner? What stops an individual from saying "I never joined your partnership!". Do we all keep counter-signed contracts similar to articles of incorporation to prove the others are in fact general partners with full liability? It just seems a bit wishy-washy compared to limited partnerships and 'proper' legal entities like limited companies whereby details of who is what are registered with CRO.
 
As I said, a written partnership agreement properly formulated would cover all the issues of liability , percentage shares etc. That would be your constitution or equivalent to Memo & Arts in the case of a company.
 
Thanks Graham, Would that have to be held on file by our solicitor in case of dispute (not anticipated, but you never know)?
 
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