Limited Liability Partnerships

Below is a selection of our most recent updates on this subject.

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Limited Liability Partnerships Not Popular With Law Firms

Advisers, especially those operating in the business markets, need to be aware of the LLP structure as a relatively new choice of business structure for professional businesses.
Tuesday, February 22, 2005

Llps Set To Become More Popular

Most of the major UK law firms look likely to convert to LLP status by April 2005.
Friday, January 28, 2005

Conversion To Llps - More Practical Complications

Does the word 'firm' include an LLP? Are the agreements entered between the partners in a conventional partnership still valid when the business converts to an LLP? If the firm was appointed as an executor in a client's Will, does this carry into an LLP?
Monday, December 01, 2003

Succession Planning For Business Owners Trading Through Limited Liability Partnerships

Since the introduction of a limited liability partnership (LLP) as a third choice of business medium (in addition to a conventional partnership or a limited company) the issues surrounding succession planning for business owners running a business through this medium have become a little more complex. At least this is the general perception. With an LLP being a corporate entity on the one hand (for legal purposes) and a collection of individuals on the other (for tax purposes), it is no surprise that some confusion exists as to how to treat these business entities and their owners, especially in the area involving life assurance planning and trusts, including succession (share purchase) arrangements and keyperson cover. However, clear understanding of the LLP structure and the issues involved should prevent any confusion.
Thursday, September 25, 2003

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