partnership or limited company?

[spdunky]

hi i am setting up a new business with my partner and 3 investors, what is the best form of business type to have and what are the advantages and disadvantages of them? should we set up as a limited company or a partnership or a plc or limited partnership, how do we decide which one to become? we are opening a paintball arena. hope you can help. many thanks.

[Oneeyedvic]

I would totally agree - you need a good accountant - try and get one from personal recommendation - he/she will be able to advise you best (as they will know your personal circumstances).

You can also try going to Business Link for further advice (they won't charge you for advice)

[jedimistress]

Especially for something as large as a paintball arena. Sounds like there are too many variables to advise on on here.

It is a large step to take so I hope someone is up to speed on your responsibilities & liabilities, finanical and others.