- High international prestige as a member of the European Union
- LP is a body corporate, but taxable as partnership
- LP is not subject to double tax treaties
- LP must have at least one general partner who manages LP and has unlimited liability to creditors
- Limited partners can not take part in management of LP in order to preserve their limited liability
- Annualy required to prepare and submit tax return
- If the company operates outside the UK, no VAT number can be obtained
For tax purposes a LP is normally treated as a partnership.
Business activities of the LP are treated by its general member.
LP will normally be regarded as transparent for tax purposes and each member will be assessed to tax on their share of the LP income or gains.
Each partner is taxable on the income they derive from the LP as self-employed trading.
For losses there are special restrictions to limited partner in LP.
Every partner must register for Self-Assessment with HM Revenue and Customs (HMRC).
|Name||Company name needs to end with ''Limited Partnership”' or ''LP''
Limited use for some words like ''International'', ''Holding'', ''Building Society “, Group'', ''National'' etc.
|Registered Address||Required in Scotland|
|Capital||Not minimum required|
|Partners||Minimum two partners, can be corporate or individual person. The LP is managed by general partner that has unlimited liability|
1. Read carefully the information available in our website regarding company formation, taxation, costs etc.
2. If you have any questions, fill in the online form Ask an expert found in the Contact page or call us +(44) 7 929 207 667
3. Using our e-mail address email@example.com write what you are interested in
4. If you would like to register a new company we will send you via e-mail an order form that will need to be completed
5. After we receive the completed order form, we will inform you about the required due diligence documents and send you invoice for payment