Limited Liability Partnerships
A Limited Liability Partnership (“LLP”) is similar to an ordinary partnership in that a number of individuals or limited companies, known as the “Members”, share in the risks, costs, responsibilities and profits of the business. The difference is that liability is limited to the amount of money they have invested in the business and to any personal guarantees they have given to raise finance. This means that members have some protection if the business runs into trouble.
An LLP does not have a share capital or a set of Memorandum and Articles of Association. Instead, the Members of the LLP can choose to put in place a LLP Agreement that binds all the members. This document is not required to be sent to Companies House and is therefore not available to the public. A1 can produce a LLP Agreement tailored to your requirements (additional costs apply from £200+vat)
LLPs are treated in the same way as ordinary partnerships insofar as the members are taxed as individuals on the amounts taken from the LLP’s profits rather than as shareholders becoming liable to Corporation Tax on the dividends paid to them.
LLPs are commonly used by professional practices such as accountants, lawyers, architects, etc.
Our comprehensive limited company formation package includes the following:
- Name clearance
- Certificate of Incorporation
- LLP Agreement (if applicable)
- First Minutes of the Members
| Prices |
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| Limited Liability Partnership | £60.00 |
Company Formation with Fast Track Business Bank Account
We have an exclusive agreement with Barclays Bank PLC to open business bank accounts simultaneously with the formation of new companies. Click here for full details.
How to Order
To order a new LLP with or without a fast track business bank account, simply contact us via our enquiry form or call us on 020 8458 9637 .
