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Limited Liability Partnerships (LLPs)

Overview

The Limited Liability Partnerships Act 2000 introduced the Limited Liability Partnership (LLP) structure. LLPs have the benefit of flexible internal structures but also allow for limited liability. This means that while the characteristics of the business are similar to that of a partnership, there is no personal liability involved and the LLP is regarded as a separate unit from its members.

It is important to note that LLPs do not protect members from professional negligence liability so insurance is still an essential requirement. All LLPs must create an annual return of accounts and file them at Companies House.

Limited Liability Partnerships can be confusing and it is common for many professionals to seek legal assistance. Lance Mason will explain everything you need to know and our initial advice is completely free of charge.

What can Lance Mason offer?

  • If your business is just starting up, we can provide advice on the formation of LLPs
  • We can explain how to convert an existing partnership into an LLP
  • We can liaise with your financial advisors and help resolve any issues that may arise
  • We can draft your LLP agreement and any other legal documentation you might need
  • We can negotiate the terms of the LLP agreement
  • We can offer dispute resolution services if there are issues relating to an LLP

Why should I choose Lance Mason?

Your Lance Mason experience is what means the most to us. We will make sure you fully understand the legal workings of LLPs and help your company achieve whatever business goals it initially laid out. Our time and energy goes into making sure you are completely happy with the standard of service and that you can make big business decisions knowing that the law is on your side.

Contact Lance Mason today

To arrange a free consultation or to speak to a member of the team call us today on 08000 84 2000.

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