This is the case even if you intend on continuing to trade in a different format later on. For example, if one partner leaves, then it is often advisable to close the old partnership down so that the remaining partners can form a new partnership to exclude the one who has pulled out.

This is not the case with every partnership, however, and it is worth bearing in mind that limited liability partnerships (LLPs) are covered by different rules from general partnerships. At Salient Insolvency, we have a wealth of knowledge to share concerning business partnership closures of all kinds. We’ll help you to make the best-informed decision you can about how best to proceed with your business partnership closure.