Put simply, a partnership is the coming together of two or more parties with a view to making a profit. Partnership is used for various purposes. It is common amongst the professions such as law firms, accountancy and medical practices. It can however be as simple as two or more people holding a property for letting purposes, and sharing the proceeds of the income of the property.
You should all by now be into the final stages of implementing plans for the impending new legislation on GDPR which comes into effect on Friday 25th May 2018.
There has been much written in the media and we are sure you will have been bombarded with information from various providers seeking to offer solutions.
The first thing to remember in all of this is the fundamentals have not really changed. The regulations are a consolidation and update of existing laws. There are some rights which are now requirements but the main difference is that firms need to demonstrate that they are taking steps to protect personal client, employee and supplier data that will avoid the now punitive fines that The Information Commissioner’s Office (ICO) can levy.
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