Incorporation of LLPs

Setting up an LLP isn’t complicated, but there’s more to it than filling in a form at Companies House. The decisions you make before you register, about who’s involved and how the business will be run, are the ones that matter most. We handle the incorporation and draft the agreement that sits behind it.

What to agree before you register

An LLP needs at least two designated members and a registered office. Before you incorporate, it’s worth settling the things that will shape how it operates:

• Who the members are, and what each of them contributes
• How profits are distributed
• How decisions get made, and who’s responsible for what
• What happens when a member wants to leave

Most of this belongs in an LLP agreement. Companies House recommends putting one in place, because it governs the relationship between members in a way that’s legally binding. Without it, an LLP falls back on default rules that may not reflect what you intended.

How we set it up

We handle the incorporation start to finish. That includes:

• Advising on whether an LLP is the right structure in the first place
• Choosing and checking the name and registered office
• Preparing the LLP agreement that governs how the business runs
• Registering the LLP at Companies House
• Dealing with the identity verification Companies House now requires for every member
• Getting the LLP registered for self-assessment with HMRC once it’s incorporated

Once you’re up and running

An LLP comes with ongoing obligations that a general partnership doesn’t. Each year you’ll need to file a confirmation statement and annual accounts, keep your records current at Companies House, and make the right tax filings to HMRC. We can talk you through what’s required and help you stay on the right side of it.

Although registering the LLP is quick, agreeing how it will run is the part worth slowing down for.