Limited Liability Partnership Accounts
A Limited Liability Partnerships is similar in some ways to a standard Partnership, except that the individual members limit their liabilities which may arise from running the business.
There are more administrative duties involved compared to a Partnership business structure. In fact, a Limited Liability Partnership is more similar to operating a Limited Company.
Therefore we would discuss with you the advantages of setting up an LLP compared with other structures and if this is right for your business strategy we would set up the LLP and advise on all your business needs. We would then prepare Limited Liability Partnership Accounts for the LLP and file with Companies House and include the profit due to each partner on their individual Self Assessment Tax Returns. Our approach is to deal with HMRC for you and leave you to run the business so that you are not bogged down with paperwork.