S R Lynn & Co Accountants - Cash Flow Forecasting, Budgeting, Management Reporting, Management Accounts, Payroll, Personal Tax, Corporation Tax, Company Nursing, Turnaround management, Milton Keynes, UK.

S R Lynn & Co

Limited Liability Partnerships

With effect from 6th April 2001, a new legal entity to be know as a "Limited Liability Partnership" (LLP) became available. This form of company has been created to permit businesses that could not or did not operate as limited companies to nevertheless obtain the protection of limited liability.

An LLP is formed by incorporation under the Limited Liability Partnerships Act 2000 and it will have a legal personality separate from its members. For tax purposes, any trade, profession or business carried on by an LLP will be treated as though carried on by its members in partnership and assets of the LLP will be treated as partnership property.

Please call us if you are interested in discussing LLP's further
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