Limited Liability Partnership Registration



> Convenient
> No minimum capital requirement
> No limit on owners of business
> Lower Registration Cost
> No requirement of compulsory Audit
> Savings from lower compliance burden
> Taxation Aspect on LLP
> (DDT) not applicable


Some of the key Features of LLPs are:

> They are a separate legal entity from their members.
> They have the benefit of limited liability for their members.
> They are taxed as a partnership.
> They have the organizational flexibility of a partnership.
> Any agreement (“LLP agreement”) between the members governing the operation of the LLP is a private document which is confidential to the members.
> They must have at least two “designated” members.
> Their “trading disclosure” requirements are similar to those of a company.
> They must be registered at Companies House.
> Their accounting and filing requirements are similar to those of a company.
> They have the ability to create floating charges.


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