what is an LLP?

What is a Limited Liability Partnership?

In the UK there are different types of business structures which can be adopted for many different reason. A Limited Liability Partnership (LLP) is often the preferred method of professional organisations such as solicitors, accountant and architects. It is operated in the same way as a regular partnership but provides the members with Limited Liability.

To register an LLP you require a minimum of two designated members which can be individuals or corporate entities and the members can be based in the UK or overseas. The difference .between a designated member and a regular member is designated members have additional responsibilities and powers. For further details regarding designated member please see our article explaining the different types of LLP members. The LLP will be required to provide a UK registered office address and details for the Persons of Significant Control (PSC).

LLP Formation

  • Full LLP documents

Structure and Formation!

The LLP tax structure is different to Limited by shares as the partnership does not pay corporation tax. The LLP members pay tax on the profits they receive form the LLP as an individual and file yearly tax returns. The partnership will still be required to file a confirmation statement and accounts annually with Companies House. They must also ensure they  update Companies House records with any changes to the member’s details or addresses.

At present Companies House only provide the option to register Limited Liability Partnerships by post. This involves completing the LLIN01 form which can be very time consuming. Standard Postal applications take approximately 5 working days to be registered and costs £40. You can apply for a same day application at Companies House for £100.

Register an LLP online using our website!

Using our online formation software you can register your LLP online in a matter of hours for as little as £28 using our standard service. We can also provide a same day application from £58 when submitted before 2:30pm.

Processing times are subject to Companies House but if your LLP formation is urgent you can select the Same Day LLP Formation.

Why use our service?

You can form your LLP online using our website. Companies House do not provide online formation to the public and postal applications are slow and expensive. Save both time and money by using Simple Formations.

Keeping Company Registration Simple!

Customers can purchase their LLP online using our website. We provide all of the legal forms and make the registration process as simple as possible. Enter your LLP details and we take care of the incorporation.

Simple, Quick, LLP Formation! Quicker and easier than using Companies House.