LLPs

A Limited Liability Partnership (LLP) is a legal business structure that combines elements of both normal Partnerships and Limited Companies. It is designed to provide the flexibility and tax benefits of a normal Partnership, whilst offering limited liability protection to the members of the partnership, thereby offering personal protection from business debts. LLPs are typically used by professional service firms, such as law firms, accounting firms and consulting companies. 

The LLP must be registered with HMRC, either online or using a form, after which HMRC will expect tax returns to be submitted by a nominated partner every year. Each partner must include their share of the partnership profits in their own personal tax returns.

The LLP must also file Accounts and a Confirmation Statement to Companies House every year, similar to Limited Companies. 

• Completion and submission of your year-end accounts
• Submission of the Confirmation Statement
• Submission of the Partnership Tax Return
• Submission of up to two partner’s Self-Assessment Tax Returns
• Automated reminders for your important deadlines
• Annual tax efficiency reviews to reduce your tax bill
• Proactive checks of your bookkeeping
• Online accounting software (Xero or QuickBooks)
• Mobile app to invoice customers and upload receipts
• Automated bank feeds to speed up your bookkeeping
• We manage the transition from your current accountant
• Unlimited queries and support.