Limitedliabilitypartnerships

A limited liability partnership is a corporate structure that lets a business be run with the flexibility of a traditional partnership while giving its members the protection of limited liability, similar to shareholders in a company. LLPs must be registered at Companies House and file accounts and confirmation statements, though profits are generally taxed on individual members rather than the LLP itself.

The structure is popular with professional services firms and joint ventures where partners want operational flexibility and profit-sharing arrangements agreed between themselves, without exposing personal assets to the same extent as an unincorporated partnership. We help LLPs with their accounting, member profit allocations and compliance obligations, and advise on whether the structure suits a new or existing business.