What is a Limited Liability Partnership?
A Limited Liability Partnership (LLP) is a partnership whereby the partners have limited liability, that is, they are not personally liable for the debts of the business.
Parnerships and LLPs are much the same except that LLPs have limited liability, and therefore protect the business owner’s personal assets (unless personal guarantees have been signed!). LLPs also have some further filing responsibilities with Companies House such as submission of Abbreviated Accounts and an Annual Return. Don’t let this put you off — all of this is included in our comprehensive package for LLPs.
We can advise whether an LLP is the best structure for you and can complete all of the necessary accounts and returns for a low cost monthly fee.
What’s included in our Limited Liability Partnership package
- Your own dedicated accountant
- A full set of accounts
- Completion of abbreviated accounts to Companies House
- Completion and submission of the partnership tax return
- Submission of annual return to Companies House
- Up to 2 partners self-assessments
- Regular tax efficiency and business recommendations
- Representation in the event of an HMRC investigation
- Business guides and resources
- Unlimited help and advice
- Automatic regular reminders for all of your important deadlines
- Access to a financial advisor, legal advisor and insurance broker