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Coddan CPM Ltd. – Company Registration Agent in the UK
Home LLP & Limited Partnerships Main Characteristics of Limited Liability Partnerships

Main Characteristics of Limited Liability Partnerships

Benefits of setting-up as a limited liability partnership with Coddan: when many entrepreneurs first consider business start up, they are not completely aware of their options. In the UK, there is not a single corporate structure. In fact, there are a number of different options for a corporate body. The four main types of structure in the UK are those of limited company (LTD), public limited company (PLC), limited liability partnership (LLP) and limited partnership (LP).

For those entrepreneurs who plan to trade on their own in a small capacity, there is also the option of setting up as a sole trader. Each type of entity has its own advantages and disadvantages and has been broadly created to serve a particular type of company. Similarly, there are LLP characteristics that make that structure suitable for centre circumstances. If you've any enquiry then please get in touch with us! Mail: info@coddan.co.uk. We aim to reply to all emails within 24 hours. If you are rushing please feel free to call us between 9.30am-6.00pm Monday to Friday by telephoning + 44 (0) 207.935.5171 or (0) 330.808.0089 (national rates) and chat further.


LLP start up packages for UK residents ↓

£32.00

NO HIDDEN CHARGES

Recommended for Recommended for

1
option

If you want to use your own address as a business location, and want to establish a limited liability partnership with free bank account, then, you can choose this package. We will register an LLP online, within a few hours; you do not need to complete any kind of paper forms.

Check the button below to see what services and benefits come with this offer:



£49.99

NO HIDDEN COSTS

Recommended for Recommended for

2
option

If you want to use your own address as a business location, and want to register a limited liability partnership with extra documents supplied by post and e-mail & free bank account, then, you can choose this package. We will set-up an LLP online, within a few hours; you do not need to complete any kind of paper forms.

The second offer combines the same options described in the first package, plus:



£92.99

NO HIDDEN FEES

Recommended for Recommended for

3
option

If you want to use your own address as a business location, and want to form a limited liability partnership with all required documents and registers supplied by post and e-mail & free bank account, then, you can choose this package. We will incorporate an LLP online, within a few hours; you do not need to complete any kind of paper forms.

This offer comes with all advantages mentioned in the first two packages, and free of charge postal shipment of:



£99.99

NEXT YEAR FEE FROM £75.00

Recommended for Recommended for

4
option

If you do not want to use your own address as a business location, and want to form a limited liability partnership with a registered address in London, Belfast, Edinburgh, and Liverpool or in Manchester, and get documents by post and e-mail & free bank account, then, you can choose this package. We will form an LLP online, within a few hours; you do not need to complete any kind of paper forms.

This offer comes with all advantages mentioned in the first two packages, plus:





LLP incorporation packages for overseas clients ↓

£129.99

ANNUAL FEES FROM £105.00

Recommended for Recommended for

1
option

If you are non-resident, and want to start a limited liability partnership with a registered address in London, Belfast, Edinburgh, and Liverpool or in Manchester, get documents by e-mail, then, you can choose this package. We will form an LLP online, within a few hours; you do not need to complete any kind of paper forms.

You can add extra services by completing the order form. Check the button below to see what services and benefits come with this offer:



£479.99

ANNUAL FEES FROM £455.00

Recommended for Recommended for

2
option

If you are non-resident, and want to open a limited liability partnership with a registered address in London, Belfast, Edinburgh, and Liverpool or in Manchester, appoint one offshore nominee member & get documents by post and e-mail, then, you can choose this package. We will register an LLP online, within a few hours; you do not need to complete any kind of paper forms.

You can add extra services by completing the order form. The second offer combines the same options described in the first package, plus:



£829.99

ANNUAL FEES FROM £805.00

Recommended for Recommended for

3
option

If you are non-resident, and want to incorporate a limited liability partnership with a registered address in London, Belfast, Edinburgh, and Liverpool or in Manchester, appoint two offshore nominee members & get documents by post and e-mail, then, you can choose this package. We will create an LLP online, within a few hours; you do not need to complete any kind of paper forms.

You can add extra services by completing the order form. The third offer combines the same options described in the second package, plus:



£989.99

ANNUAL FEES FROM £805.00

Recommended for Recommended for

4
option

If you are non-resident, and want to setting-up of a limited liability partnership with a registered address in London, Belfast, Edinburgh, and Liverpool or in Manchester, appoint two offshore nominee members & get apostilled documents by post, then, you can choose this package. We will establish an LLP online, within a few hours; you do not need to complete any kind of paper forms.

You can add extra services by completing the order form. The third offer combines the same options described in the second package, plus:




Benefits of LLP start-up in Great Britain

The LLP will be registered at Companies House and will receive a certificate of registration much like a private company. The limited liability partnership will also have to submit an annual return and provide annual accounts, just like a limited company does. One of the main LLP advantages is that its partners can enjoy all of the protection of limited liability but the organisation still has a traditional partnership structure. Each partner will only be liable for the amount of their investment in the LLP and the value of the equity in the business.

One fundamental difference between a limited company and an LLP is that the partnership does not issue shares. There are also benefits around the ongoing regulatory requirements of the organisation. For example, the LLP has no need to conduct and annual general meeting (AGM). Another interesting factor of the LLP is the nature of the partners, known as members. These members can certainly be individuals but they can also be limited companies in themselves. This means that limited companies can partner with other limited companies and individuals to setting up an LLP to address specific projects. These  characteristics can make it an ideal vehicle for businesses to work together on projects within a legal framework.

The Limited Liability Partnership Act came into force in 2001 and was aimed at global partnerships, including legal practices that wanted to form international enterprises without undue risk. The theory is that a lawyer on one side of the world cannot be fully responsible for a partner's actions on the other, in a different jurisdiction. So the limited liability partnership becomes liable for any claims or debts in such a case, and the individual partner's liability is limited to their capital investment. Just two people are required to be designated members, and the rest of the LLP's structure can remain flexible with members coming and going. This flexibility appeals to many types of business, especially entrepreneurs that want to work together on a short-term basis for specific projects.

Limited liabilities partnerships establishment

Starting Up an LLP in UK

Registering of an LLP offers a wealth of opportunity, given that you will benefit from paying no tax on your profits if you are non a UK domiciled individual, and using a partnership for your business outside of the UK. The paperwork and LLP establishment process would be an administrative nightmare if you were to attempt to set up a firm by yourself, but utilising the services  form business start up agents reduces the whole process for you to one single phone call. Our highly experienced team have been assisting in limited liability partnership start up for many years. We can perform the entire incorporation procedure for you, including the provision of a nominee member, nominee secretarial support and business bank account, in an entirely stress-free manner.

 

Advantages of an LLP Start Up

What is a limited liability partnership? Such entities were created by the Limited Liability Partnerships Act 2000, and are known as "LLPs". Two or more individuals, corporations, partnerships, trusts, or other entities can join together to engage in business as an LLP.

The owners are called "partners". Partners essentially own the partnership much in the same way as partners own a general partnership and shareholders own a corporation. Limited personal liability of the partners of an means that in most situations the debts and obligations of the business engaged in by the LLP are not the personal responsibility of the partners - the debts and obligations of the business can only be paid from the income and assets of the partnership.

Of course, if a business operated by an LLP has financial difficulties, each partner could lose the amount of his or her investment, as well as the equity built up in the business.

Beyond this, however, no partner risks the loss of his or her other assets and income.The LLP will have a registered office, recorded at Companies House. Enforcement will be taken against the LLP as a legal entity in its own right. Members or designated members of the partnership may also be the subject of enforcement as members of a body corporate under s.37(2) HSWA, if their conduct comes within the terms of s.37(1). Care should be taken to determine individual roles and responsibilities, to ensure that any action is being taken against the most appropriate person.

Choosing the entity that best suits your business and personal needs is an important decision and should not be taken lightly. Legal and tax advantages as well as disadvantages exist for each entity. It is strongly suggested that new business owners consult with both a tax accountant and an attorney to aid in making a proper decisions.

Operation of a business as an LLP may not be appropriate for all situations. Careful consideration should always be given to the choice of business organization. The desired financial and managerial relationships among the investors, the potential liabilities of the business, and consequences of various tax treatments are factors which must be considered. We recommend reviewing this site in its entirety, so that you are knowledgeable of the UK jurisdiction and the powers granted to LLPs.

We will guide you through the process of registering your limited liability partnership and establishing your registered identity. Complete and submit application form. Adequate completion and submission of this form, along with the provision of payment, will enable Coddan to incorporate an LLP within from one to six hours.