UK LLP tax planning

A UK LLP is just like any ordinary Partnership, except that liability is limited to the amount each partner has invested. This is particularly suitable for law and accounting firms, as well as for joint ventures. The UK LLPs must have at least two partners, whose additional responsibilities are governed by the law of the UK, which is of course an English speaking jurisdiction.

It’s an attractive corporate structure, since a UK LLP is not liable to taxation, and a flexible option because there is no particular requirement to constitute an LLP agreement in writing. For this type of company there should be a registered office in the UK, there is no annual license fee, it can be administrated outside of the UK, just like in the Cyprus jurisdiction , and can therefore transfer its tax obligations to a tax free or low tax international business center. Finally, English is the language that has to be used in all corporate documents issued within this jurisdiction.