Limited Liability Partnerships (Corporate)

Limited Liability Partnerships

The UK left the EU on 31 January 2020. A transition period, during which EU laws continue to apply in the UK, is due to end on 31 December 2020. The UK/EU Withdrawal Agreement sets out transitional arrangements and negotiations for the future UK/EU relationship are ongoing.

Since their inception in 2000, limited liability partnerships (“LLPs”) have been heavily used in the professional services sector. However, any business can trade through an LLP and, more recently, we are seeing increased popularity in other sectors.

The LLP structure was designed to promote the growth of partnerships by providing them with limited liability and a separate legal identity, whilst maintaining the tax treatment received by partnerships. The structure also provides other key benefits such as sense of ownership in the business and flexibility in management and remuneration structures. While the benefits seem clear, it is worth noting that the structure is complex and requires careful management.

Our cross departmental team of specialists has significant experience in the unique intricacies of LLPs and the life cycle of the business structure.

We help LLPs manage all aspects of the structure, from set-up and management to dispute resolution and exit strategies.  We advise individual members on the full spectrum of issues from those relevant on joining through to disputes and discrimination and exit terms.

We know the market  and we understand that entrepreneurs and growing businesses have limited time to consider their business structures.

Services

  • Fixed price LLP conversion
  • LLP formation
  • Joining a partnership or LLP
  • Remuneration and management structures
  • Corporate tax Corporate governance
  • Exit strategies: mergers and sales dissolution, insolvency and winding up
  • Members agreements and contracts of employment
  • Practical and commercial HR advice
  • High court and employment tribunal litigation
  • Individual members’ tax
  • Restrictive covenants, confidential information and database and data protection
  • Employee and member dismissals, including redundancy and restructuring Discrimination

Latest

How can we help you?

How can we help you?

Subscribe: I'd like to keep in touch

If your enquiry is urgent please call +44 20 3321 7000

Crisis Hotline

Emergency number:

COVID-19 Enquiry

Please enter your first name
Please enter your last name
Please enter your enquiry
Please enter your email address
Please enter your phone number
Please select a contact method

I'm a client

Please enter your first name
Please enter your last name
Please enter your enquiry
Please enter an email address
Please enter your phone number
Please enter a value

I'm looking for advice

Please enter your first name
Please enter your last name
Please enter your enquiry
Please select a department
Please enter your email address
Please enter your phone number
Please select a contact method

Something else

Please enter your first name
Please enter your last name
Please enter your enquiry
Please enter your email address
Please enter your phone number
Please select your contact method of choice