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Limited liability partnership - Wikipedia

A UK LLP's members have a collective ("Joint") responsibility, to the extent that they may agree in an "LLP agreement", but no individual ("several") responsibility for each other's actions. As with a limited company or a corporation , members in an LLP cannot, in the absence of fraud or wrongful trading, lose more than they invest.…

UK LLP vs Ltd Company - LLP (UK): LLP Formation (Foreign ...

UK LLP is regarded as a ’corporate body ‘in legal terms, the same as a company. For tax purposes a UK LLP is normally treated as a ’partnership’. It means that a UK LLP will normally be regarded as transparent for tax purposes and each member/partner will be subject to tax on their share of the LLP’s income or gains.…

LLP vs Ltd: What’s the difference? The Formations Company

Limited Liability Partnerships were introduced by the UK government in 2001. The Limited Liability Partnership, or LLP, offers many of the same features as a limited company, such as limited liability. However, the two are different in a number of important ways. These are best understood once you know what an LLP is.…