New Company Packages
- Limited Company Formation Packages
- Guarantee Company Formation
- Public Limited Company Formation
- Property Management Company
- Commonhold Association Formation
- Limited Liability Partnerships
- Offshore Company Formation
- Charities
- Company Formation for Overseas Residents
- Northern Ireland and Scottish Companies
- Community Interest Companies
- Ancillary Services
- Legal Advice and Consultancy
- Trademark Registration
- Third Party Services
- Frequently asked questions
- What is a Limited Liability Partnership?
- What is the purpose of a Partnership Agreement?
- What is the difference between a UK limited liability partnership and a UK limited liability company?
- Who can form a limited liability partnership?
- Who will be liable for the Limited Liability Partnership?
- A registered office is required in order to incorporate an LLP - what is it?
- What is the minimum number of designated members a limited liability partnership requires?
- What is the difference between a member and a designated member?
- What are the disclosure requirements of a Limited Liability Partnership?
- Does a Limited Liability Partnership have a constitution in the form of Memoradum and Articles of Association like a company?
- How will a Limited Liability Partnership be taxed?
Limited Liability Partnership Frequently Asked Questions
Who will be liable for the Limited Liability Partnership?
The Limited Liability Partnership will be a separate legal entity and while the Limited Liability Partnership itself will be liable for the full extent of its assets the liability of the members (partners) will be limited. As with any other company, it can in some circumstances be possible to make a partner of an Limited Liability Partnership liable on his or her own account, e.g. for negligent mis-statement. This can occur where the partner has been negligent when carrying out work for a client. Such liability is rare depending as it does on the member of the Limited Liability Partnership assuming personal responsibility for advice given, and that assumption being relied on by the client.
