All partners in a partnership must consent to property becoming partnership property before it is treated as such, and that there is written, formal evidence of this - or risk a claim that it is not partnership property, following a recent ruling.
Limited liability partnerships
Limited liability partnerships (LLPs) are companies that operate as partnerships but with the company rather than the partners taking responsibility for business debts. On this page you can find articles, books and online resources providing guidance and background information.
Legal Alert is a monthly checklist from Atom Content Marketing highlighting new and pending laws, regulations, codes of practice and rulings that could have an impact on your business.
New practice: Companies House steps up enforcement of 'persons with significant control' disclosure rules
Limited companies, LLPs and other entities subject to the 'persons with significant control' (PSC) regime, requiring them to disclose individuals with significant control over them, face a more rigorous approach to compliance from Companies House, its latest Annual Report makes clear.
Case law: LLP member can claim compensation for future loss of earnings following whistleblowing detriment
Members of LLPs should consider their potential liability to compensate a member for losses, including potential future loss of earnings, if they expel that member (even if lawful) – if the losses are attributable to unlawful treatment of the member because of their whistleblowing before expulsion.
Is Scotland a safe haven for fraud?
Recent months have seen an increasing prevalence of Scottish Limited Partnerships in fraudulent activity. Reportedly, 20 SLPs were involved in a Moldovan bank fraud with losses estimated at $1 billion. This article discusses the sudden popularity of SLPs and their potential role in money laundering operations.
Tax code breakers
HMRC changes to the taxation of LLP members kicked off one of the biggest shake-ups in the UK legal market in years.
LLPs that have junior partners could be hit hard by new rules that will allow HMRC to disregard their self-employed status
Controversial new legislation will enable HMRC to disregard a member's self-employed status in an LLP and treat that individual as an employee of the LLP.
Set up and run a limited liability partnership
GOV.UK guidance to the responsibilities associated with LLPs, including choosing a name, having a registered address, appointing designated members and registering with Companies House.
Limited Liability Partnerships
GOV.UK page from Companies House on incorporation and names, the life of an LLP, dissolution and late filing penalties.
Partnership, LLP or corporate practice
Information on choosing a legal structure for your accountancy practice.
Preparing an audit report for Limited Liability Partnerships (LLPs)
Helpsheet explaining the main changes that are needed to the audit report of a limited liability partnership (LLP) that does not prepare group financial statements.
Amendments to LLP regulations now approved
Commentary on the new LLP regulations introduced in May 2016.
Understanding limited liability partnerships in the small and medium-sized business sector
Examines the take-up, meaning and relevance of the LLP format for SMEs.
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports through our document supply service.
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