UK LLP

Limited Liability Partnerships are required to have i) at least two members (who can be corporate members) and ii) one manager. All members of an UK LLP have limited liability over the debts and losses of the partnership; During registration, LLP must submit an Agreement stating i) distribution of profits ii) decision-making authority iii) members’ responsibilities and iv) entry and exist policies;

The LLP must submit a partnership Self-Assessment tax return to HM Revenue and Customs (HMRC). Furthermore, all partners must i) submit an annual personal self-assessment tax return ii) pay income tax on their share of the profits and iii) pay National Insurance;

UK LLP Key Features
Limited Liability Partnerships are required to have:

1. At least two members (who can be corporate members) and one manager.
2. All members of an UK LLP have limited liability over the debts and losses of the partnership;
3. During registration, LLP must submit an Agreement stating:

1. Distribution of profits
2. Decision-making authority
3. Members’ responsibilities and
4. Entry and exist policies;

UK LLP Legal Requirements

UK LLP Tax Treatment
UK LLP is a Tax exempted business entity.

UK LLP Advantages
The main advantage of a limited liability partnership is that is legally tax-exempt business entity.

The Valsen Advantage

1. End to end comprehensive service
2. Speedy and efficient service
3. Expert advice on structuring options
4. Dedicated ongoing compliance support
5. Extensive network pool of service providers