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Set-Up a LLP and Register a Limited Liability Partnership (LLP)

UK LLP FORMATION SERVICE. FORMING AN LLP IN THE UNITED KINGDOM. DEFINITION OF LIMITED LIABILITY PARTNERSHIP & LIMITED LIABILITY PARTNERSHIP BENEFITS. WHAT IS THE DIFFERENCE BETWEEN AN LLC AND AN LLP?

Online LLP Formation & Registration LLP Limited Liability Partnership in England: welcome to online Limited Liability Partnership - UK LLP formation agent. Whether you are suited to being your own boss and can start up on minimal resources are questions that can only be fully answered once you take the plunge.

But the below sections will give you the best possible idea as to what's involved in going it alone, where you can find help and how others have fared when starting up a business. We recommend reviewing this site in its entirety, so that you are knowledgeable of the UK jurisdiction and the powers granted to British LLPs. We will guide you through the process of registering your limited liability partnership and establishing your registered identity.

Complete and submit an LLP Application Form. Adequate completion and submission of this form, along with the provision of payment, will enable Coddan to incorporate your proposed LLP within five business days. We will express mail your documents to the mailing address you specify in your incorporation order. Upon your request, we may provide registered address services across the UK (in any city or town) and we may provide you a telephone number with call forwarding from any city and town.
Finding and Using Information:   UK LLP Formation | LLP Incorporation Requirements | Definition of Limited Liability Partnership | Starting a Limited Liability Partnership | The Greatest Benefit of Becoming an LLP |  What is a LLP? | What is the Difference Between a LLP and LTD? | Who Can Register an LLP? |  LLP Tax Aspects | UK LLP Act | Top 10 Requirements & Benefits to Create a LLP | UK Company & LLP Dissolution | LLP Advantages & Disadvantage | LLP Main FAQs | LLP Main Characteristics | Top 10 Requirements & Benefits to Create a LLP | Tax Transparency | Conversions | Tax Reliefs | Double Tax Relief | Property Investment LLPs | Stamp Duty Land Tax and Stamp Duty | National Insurance | 

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What does LLP stand for? What is the difference between an LLC and LLP? The LLP must have at least two members in the partnership, which can be resident anywhere in the world. The members can be natural persons or corporate bodies. A Limited Liability Partnership or LLP is a relatively new creation that operates much like a limited partnership, but allows the members of the LLP to take an active role in the business of the partnership, without exposing them to personal liability for others' acts except to the extent of their investment in the LLP. All profits in a Limited Liability Partnership (LLP) are split between the members. The tax liability falls on the individual members, not the LLP itself. Most members are likely to be self-employed, so all income should be declared via self-assessment. If an LLP member is another business, they will be liable to pay corporation tax on any income they receive from the LLP. As with other company structures, if the LLP is expecting to generate income of £61,000 or more (from 1/4/2006; previously it was £60,000), they should register for VAT. If they have employees, the LLP should set up a PAYE system to collect income tax and National Insurance contributions.

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A limited liability partnership is a legal entity and a body corporate. That means it has a legal personality separate from that of its members. Like a limited company, a limited liability partnership can do all the things an individual or company can do. It can make contracts, sue or be sued, hold property or become insolvent.

By and large, partnership law does not apply to a limited liability partnership, but the arrangements between the partners may closely follow a traditional partnership agreement. A limited liability partnership is not the same as a limited partnership, regulated by the Limited Partnerships Act 1907.

Much of this short LLP Act is taken with amendments to the Income and Corporation Taxes Act 1988.

The profits of the business of a limited liability partnership are taxed as if the business were carried on by partners in partnership, rather than by a body corporate. This ensures that the commercial choice between using a limited liability partnership or a partnership is a tax neutral one. There are fair and foreseeable provisions to restrict set off losses elsewhere against partnership profits of a partner and other anti-avoidance measures.

Capital Gains Tax: The members of a limited liability partnership are charged to Capital Gains Tax in largely the same way as traditional partners in a partnership. Neither the commencement of the limited liability partnership, nor any change of partner is treated as an event-giving rise to a charge to Capital Gains Tax.

Inheritance Tax: The Inheritance Tax Act 1984 has been amended to provide that the partners and partnership assets of a limited liability partnership are treated in largely the same way as those of a traditional partnership.

UK LLP Formation Packages: 

ECONOMY Formation Package* for just £125.00 (with no hidden costs!)
Our fees for our LLP incorporation package are £125.00 and include the following items: LLP registration, Companies House filing fees, bound copy of the completed LLP Agreement. Coddan specialising in incorporation of Limited Liability Partnerships in England, Wales, Scotland and in Northern Ireland. Our incorporation service which ENABLES YOU TO APPOINT YOUR OWN members and registered office details straight away. Your LLP is then submitted for registration with your choices as the original LLP officers. (Note: All partnerships are formed with your own details from the time of incorporation; we do not use nominees as some agents do. We do not register partnerships which have sensitive words free of charge.)

* The Economy Package is ideal for small and medium businesses and for customers who have their own address in the UK, and who have at least two partners appointed as LLP memb