Limited Liability Partnerships
A Limited Liability Partnership (LLP) is an alternative corporate business structure that has the benefit of limited liability for its members (like a limited company) and is a separate legal entity in its own right (meaning it can contract and own assets etc. on its own behalf). At the same time however, it allows its members the flexibility of organising their internal structure to resemble a traditional partnership. It therefore has both corporate and partnership characteristics.
Despite its name an LLP is not a partnership and partnership law does not generally apply to LLPs. LLPs are broadly governed by the Limited Liability Partnership Act 2000 as amended by various regulations, the Companies Act 2006 and the Insolvency Act 1986.
This LLP subfolder contains a guidance note on LLPs and offers a choice of templates to cover all the main aspects of forming, running and dissolving a LLP.
Our information pages which can be accessed here provide more information on the mechanics of operating a LLP.
LLPs are subject to the same PSC regime as limited companies and as such must collect and keep information about people with significant control over them in a register. Our PSC documents for LLPs can be accessed here.
Limited Liability Partnerships is part of the Corporate Documents folder. Just £35.00 + VAT will provide you with 1 year's unlimited access to download all/any documents from the Corporate Folder.