Limited liability partnership package
Limited liability partnerships are typically formed by professionals, including accountants, architects, solicitors, and medical practitioners. In some cases, registering an LLP offers more advantages than a limited company, and today, many family-owned businesses use the LLP model.
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Why form an LLP?
The main benefit of registering a limited liability partnership (LLP) is asset protection. In an LLP, partners can only lose their invested capital if the business fails; their personal assets remain secure. In contrast, unregistered partnerships hold all partners liable for each other's debts, putting personal finances at risk.
The basic requirements to form an LLP are:
- You must have a registered address ( principal place of business)
- An LLP must have at least two members or partners.
- An LLP must appoint “general” and “limited” partners
- An LLP must register with Companies House
Limited Liability Partnership Package
When you register an LLP, there are specific steps and requirements that you’ll need to comply with from Companies House.
£29 +VAT
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£50 UK Companies House fee will be added.
What’s Included
- Limited Liability Partnership (LLP) set up
- Quick online company setup
- Super-fast online service
- Digital documents of Company Incorporation
- Web authentication code
Free
- Free .co.uk domain
- Consultation with an accountant
- Business startup guide
- Online company manager account
- Customer support
- Marketing guide
Frequently Asked Questions
What is a Limited Liability Partnership (LLP)?
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A Limited Liability Partnership (LLP) is a flexible business structure combining the best elements of partnerships and companies. LLP members enjoy limited liability protection like company shareholders while maintaining operational flexibility and tax benefits of traditional partnerships. The LLP is a separate legal entity that can own assets, enter contracts, and continue operating regardless of membership changes.
What are the main advantages of forming an LLP?
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LLPs offer limited liability protection for all members, flexible profit sharing arrangements, tax transparency (profits taxed on members personally, not the LLP), professional credibility through separate legal identity, simpler compliance than limited companies, no share capital requirements, operational flexibility in management, and business continuity when members join or leave.
Who typically chooses LLP structure?
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Professional service firms (solicitors, accountants, consultants), medical partnerships (GP practices, dental practices), architectural and engineering firms, investment partnerships, creative agencies, consulting businesses, professional joint ventures, international partnerships, and family partnerships where professionals work together requiring partnership flexibility with corporate liability protection.
What's included in our LLP formation package?
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Name availability check and reservation, complete document preparation and Companies House filing, designated member appointments, UK registered office address (first year included), digital document delivery, LLP agreement template with guidance, online management portal access, statutory compliance guidance, and mail scanning service for official correspondence.
How does LLP taxation work compared to companies?
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LLPs have tax transparency - no corporation tax paid by the LLP itself. Members pay income tax and National Insurance on their profit share as self-employed individuals. Companies pay corporation tax (25% on profits over £250,000) plus directors pay income tax on salaries and dividend tax. LLPs offer simpler, more flexible tax treatment often more beneficial for professional partnerships.
What are designated members and how many are needed?
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Every LLP needs at least two designated members who handle administrative duties, statutory compliance, and filing obligations with Companies House. They sign accounts and official documents, ensure legal compliance, and can be held personally liable for compliance failures. At least one designated member must be an individual person, not a company.
What are the ongoing compliance requirements for LLPs?
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Annual confirmation statement filed with Companies House (£34 fee), annual accounts preparation and filing, maintaining statutory registers of members, notifying changes to membership, members completing self-assessment tax returns, maintaining UK registered office address, and meeting any sector-specific professional requirements. Generally simpler than limited company obligations.
How quickly can an LLP be formed?
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LLP formation typically takes 3-5 working days from instruction to completion. Name availability confirmed same day, document preparation completed within 1-2 working days, Companies House registration processed within 24-48 hours. Same-day incorporation available for urgent formations. All documents delivered digitally immediately upon registration.
