UK Limited Liability Partnerships

UK International Trading Vehicle

What is Limited Liability Partnership (LLP)?

It is an incorporated entity giving the benefits of limited liability to its members (partners). It is a separate legal entity requiring two or more members Key Points

International business operated by non-UK resident members is not chargeable to UK taxation, provided members are non-UK resident and there is no UK-source income. No minimum capital requirement. Requirement to file annual return and accounts with Companies House. Requirement to file partnership tax returns. Tax transparent, therefore taxation is based on the residency of its members. The members may have a tax liability in their own jurisdictions. LLP statutory documents are on public record and available from Companies House. Same day incorporation available. Corporate members can be appointed (non-natural persons). Who would the LLP benefit?

Businesses where there is no UK-source income. Members and beneficial owners who are non-UK resident. Opportunities are optimised when UK LLPs are formed to carry out non-UK business by clients in zero or low tax jurisdictions. Suitable for members resident in multi-jurisdictional countries as tax liabilities are transparent and can be dealt with on a member-by-member basis in their home country. Where and why set up the LLP

Serviced by single point of contact from any of our offices. Cost effective pricing structure. Speed and efficiency of set up. Presence of an established UK office. In-house ability to maintain the accounting records and statutory filing obligations. Fiduciary Management Services (UK) LLP is regulated by The Charted Association of Certified Accountants. Sample costings for a UK LLP:

Initial set up fee £1,750 Includes incorporation, LLP...