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.