Limited Liability Partnerships
Entering into a limited liability partnership (LLP) is an important step for any business. At Blackstone Solicitors, we can provide all of the legal services you need to make sure the agreement has your best interests at its centre and meets your specific requirements.
Contact our LLP solicitors to find out more about the services we offer and how we can help your business today. Simply call us on 0161 929 0121 or complete our online enquiry form and a member of the team will give you a call back.
Entering into and managing a limited liability partnership requires expert knowledge, attention to detail and a meticulous approach to making sure everything is just right for the members of the LLP – all qualities for which Blackstone is known.
We have experience in helping businesses from all different sectors and of all sizes, and will deliver a bespoke service that meets your specific needs. When drafting an LLP agreement, we will take the care needed to ensure everything is completed as it should be first time, removing the risk of anything coming back to haunt you or your business at a later date.
Why Legal Help is Important
When forming an LLP, it is imperative you have the right legal team at your side to ensure all aspects are covered and nothing is overlooked. An LLP is an attractive form of business model because it is a distinct legal entity and therefore it provides for the members to have limited personal liability for the debts and liabilities of the limited liability partnership.
Without an LLP agreement, you run the risk of the limited liability partnership being subject to UK laws that may not be suited to the circumstances.
We can provide all of the important legal services you need when setting up a limited liability partnership, making sure you cover everything necessary. Limited liability partnerships, since the Limited Liability Partnerships Act 2000, have offered a new business structure that avoids personal responsibility for the business’s debts as it is the limited liability partnership itself that is responsible for the business’s debts.
There are certain steps that need to be taken when setting up an LLP, including informing HM Revenue and Customs of the status of the business and the completion of an annual Partnership Tax Return and Statement. At Blackstone, we can advise you and your partners so that everything is completed as it should be, when it should be.
A limited liability partnership needs at least two members and it will also need some of its members to act as ‘designated’ members. Being a designated member means having various legally-defined reporting responsibilities to Companies House, such as ensuring the proper signing and delivery of annual accounts. The advice of an experienced limited liability partnership solicitor can be invaluable in ensuring everything is correctly organised and recorded in the LLP agreement and in particular the agreements between the members relating to the division of profits and their rights and responsibilities.
runs smoothly, as it can also be in the drawing up of a members agreement that details how members divide their profits, rights and responsibilities.
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We not only serve clients throughout the North West, including Manchester and Chester, but across the UK and beyond from our offices in Cheshire and London.