Limited Liability Partnerships
The primary reason that most people prefer to trade using a company as opposed to in partnership is the expose of the partners to the debts of the partnership. As a result of this it has been possible since 2001 to operate a business as a Limited Liability Partnership (LLP).
An LLP is a hybrid between a company and a partnership that allows individuals to have the protection of limited liability while at the same time keeping the flexibility associated with trading in partnership.
At Veitch Penny we are able to advise on the implications of converting your existing partnership to an LLP or on the advantages and disadvantages of starting up a new business as an LLP
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Free Initial Consultation |
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If you have any questions concerning Limited Liability Partnerships, or are considering converting your business to a Limited Liability Partnership (LLP) then we are happy to offer a free initial half hour consultation in order to discuss how we can help. To arrange this consultation please contact us on 01392 278381 |
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