Tax Saving Benefits via an LLP Registered in North of Ireland

Tax saving benefits and tax advantages of an LLP set-up in North of Ireland: when Coddan Ltd representatives are approached regarding set-up of an LLP  in Northern Ireland, one of the main motivators is the taxation element of setting-up and operating a limited liability partnership. It has already been mentioned, that this allows members/partners to remain as separate entities, but this arrangement cannot be understated. Using this organisational structure means that each individual business owner can use their own tax status when filing a tax return, and this can reduce the overall tax liability of the LLP as a whole.

This additional element of flexibility allows other partners (such as family members) to be included in the arrangement and individuals can be considered for a directorship based upon their own merits and tax status. This structure is something that should be considered by a range of business types, although there could be additional costs involved for a company formation that distributes profits and dividends to a group of shareholders. If there are any concerns about whether or not a limited liability partnership is suitable, Coddan Ltd advisors have many years of experience that allow them to provide expert and impartial advice.