A Limited Liability Partnership is really about having the best of both worlds, particularly when structured with a limited company. In essence, this allows you to get the benefits of a limited company together with the benefits of a Partnership. This means you benefit from the limited liability, National Insurance savings and tax savings obtained through the timing of dividends which are associated with a limited company, as well as a potentially reduced rate of capital gains tax and the option to easily vary partnership profits at any time. Ideal!
So who would benefit from this structure? You are likely to benefit firstly if you are considering selling part of the business in the future, or secondly if you think you might want to change profit shares regularly. If you are interested in knowing more or think you might benefit, please get in touch to discuss.
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