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Guidance for GPs - Partnership Agreements

UPDATED JULY 2018

The GPC have produced an excellent Guidance for GPs - Partnership Agreements- it covers all the aspects of what a partnership agreement should encompass, and should enable you to refresh your agreement.

We would advise that the partnership agreement be updated each time a new partner is admitted and/or an existing partner leaves. 

We also recommend you include detail of how different types of income are treated (i.e. what is personal income/prior allocation and what is partnership income), and how that income is shared between the partners.  It is good practice to document any changes to partnership profit share ratio each time this changes.

We recommend partnership agreements are updated by a solicitor, preferably one with a detailed knowledge of GMS/PMS contract partnerships. 

 

Updated on 16 July 2018, 716 views