UK Limited Liability Partnerships LLP

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	Untitled Document UK Limited Liability Partnerships (“LLP”) The LLP is a recent innovation of UK law, having been enacted by the Limited Liability Partnerships Act 2000. The Act became law in 1/4/2001. The UK LLP is similar in conception to the United States LLC, but there are differences. In particular an LLP is a body corporate, and it must publish statutory accounts at Companies House. However, under UK law the LLP is a “fiscal transparency”. In other words it is not subject to taxation (despite being a body corporate with separate legal personality and providing limited liability to all its membership). Only the members are liable to taxation. As the members (statutory minimum of two) may be non-UK resident persons – including offshore companies – then it follows that an LLP can trade in its own right free of UK corporation tax liability outside the United Kingdom. For further information on these services, please contact any of our specialists whose telephone, email and fax details are on this page. Alternatively, to provide us with preliminary instructions for a proposed LLP, please click here.

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	For further information (including charges), please contact any of the following: Click contact name to email Jason Reader +44 (0)117 918 1387 Rachel Flower +44 (0) 117 918 1326 Martin Palmer +44 (0)117 918 1321 Jordans Limited 21 St Thomas Street, Bristol BS1 6JS Tel: 0117 923 0600 Fax: 0117 923 0063 DX 78161 Bristol Email Location Map

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