Limited Liability Partnerships

A limited liability partnership (LLP) is a business entity which provides the benefits of limited liability alongside the flexibility and tax treatment applicable to general partnerships.  LLP’s have become increasingly popular since their inception and many businesses are now choosing to operate via an LLP instead of the traditional limited company.

There are many tax benefits of trading via an LLP and the tax savings compared with trading via a traditional limited company can be significant in certain circumstances.  However, the main advantage is that it provides flexibility and choice with regard to management and commercial decisions.

For more information please refer to our resource pages or download our LLP guide by clicking here.