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
How will a Limited Liability Partnership be taxed?
Limited Liability Partnerships in the UK will be required to disclose financial information equivalent to that of companies including the filing of annual accounts. Among other things, they will also be required to file notices of any changes of its membership and an annual return.
The Limited Liability Partnership in the UK is to be treated for tax purposes as an ordinary partnership: i.e. the partners will be liable to income tax under Schedule D for their share of the profits, and to Capital Gains Tax in respect of any gains made on the disposal of partnership assets.
- File an annual return
- Notify any changes to the Limited Liability Partnership's membership
- Notify any changes to their members names & residential addresses
- Notify any change to their Registered Office address
