Limited Liability Partnership (LLP)

Limited Liability Partnerships (LLPs) allow two or more people to form a company with the view to making a profit.

LLPs were initially aimed at professional partnerships, such as accountants, solicitors or architects. However, today they are commonly used to form companies in any sector.

The key benefits of LLP include:

Has a separate legal personality and so can own assets e.g. property, sign contracts, hire staff etc.
It offers limited liability protection for its members
No directors or shareholders
Not required to have a Memorandum & Articles of Association
Reduced tax, as all profits are classed as personal income of the members.
Greater flexibility compared to traditional partnerships or stakeholder companies.

SMART Company Formations will complete all the forms required to incorporate an LLP company, and these forms will be forwarded to you for signing.

LLP Form completion: £75 + VAT

Same day form completion: £22+VAT