COMPANY LIMITED LIABILITY PARTNERSHIP PACKAGE (LLP) £29.99 + VAT
Our most affordable UK company formation package includes all formation fees and our Rocket Booster Pack worth over £150.
Start here. Choose your perfect company name and complete your company formation application online.
Who Is This Package For
Limited Liability Partnership Package (LLP) will save you on legal costs and will be ready to trade within 3 hours, this package suites professionals such as architects, medical practitioners, solicitors, accountants and anyone else looking to have the limited liability of a company and the tax advantages of a partnership.
What is a Limited Liability Partnership (LLP), A limited liability partnership (LLP) is a type of company which trades as a partnership, but also has limited liability for its members (partners) like a limited company. It has the flexibility of a partnership and is taxed as partnership but still operates similar to a private company.
Members of a Limited Liability Partnership (LLP)
Limited liability partnerships (LLP) do not have directors or secretaries like in a limited company.
Instead a Limited liability partnerships (LLP) must have at least one ‘limited partner and one ‘general partner’, each of these types of partners have different responsibilities. A partner can either be an individual or a company.
General and limited partners have different responsibilities and although having different responsibilities all partners must pay tax on their share of the profits earned.
If the partnership fails or defaults the partners are only liable to lose the money they have invested in the Limited liability partnerships (LLP), meaning their private assets will be safe , but if it is an unregistered partnership, then ALL or ANY of the partners can be held liable for the debts of other partners.
The LLP Package includes
Companies House £12 Fee Included
Partner Service Address (free for 1 partner, buy additional service addresses for £17.88 each)
Email copy of Certificate of Incorporation
Email copy of Company R
Lighting fast company formation process
No extra costs – what you see is what you get
FREE ROCKET BOOSTER Pack to jump start your company to success.
We pledge to plant 1 tree seed for every company formed on our site. You will also receive a personalised Tree Planting Certificate.
Buy now for just £29.99 + VAT. Start
ROCKET BOOSTER PACK (included)
We try to help you get your business bank account set up with a UK account number, sort code and IBAN number plus a business debit card.
Accounting software made for small business. Plus 10% OFF forever.
Get a 60-minute consultation with an professional UK accountant and get advice and quote for their ongoing yearly services.
Instant Submission of your Company Application
Once you submit your online Limited company formation via Seed Formations’ online portal, it will then be instantly sent to Companies. It’s that simple.
Limited Liability Partnership Formed Online and Ready To Trade
Submit online to form your LLP UK company and, once approved by Companies House, your new Limited Liability Company could be ready to start trading in as little 24 hours. You will receive confirmation of your newly formed company which will include all your official company documents (electronic copies) direct to your email. This will mean you have successfully set up your company and you are ready to start trading.
ALL FEES INCLUDED – No Hidden Extras or Surprise Costs
We have a policy of transparency with our pricing and want you to be clear on what you are paying for when you form you Limited company or take one of our services. We have included the Companies House £12 registration fee.
All official digital company documents emailed
Seed Formations’ will email all official digital LLP Formation documents directly to your chosen email address in PDF format as once your company is approved by Companies House.
Quick Online Company Formation. No Paperwork. No Fuss.
Form your company entirely online without paperwork, signatures, documents in as little as 24 hours.
All you need to do is follow our step by step company formation application form that guides you through the required company and partner information requirements and if you need help we are only a click away.
Set up your Limited Liability Partnership now in just 24 hours
A partnership is a form of business organisation in which two or more individuals (partners) manage and operate the business with a view to making a profit. Each partner shares a fixed proportion of the partnership profits and losses.
What is a partnership Agreement
A partnership agreement is an agreement between two or more persons (partners) setting out the terms and conditions under which they will operate a for-profit business partnership. The partnership agreement will describe the cash contribution requirements for each partner, the distribution of profits and losses between partners, as well as other duties and obligations. The general partnership agreement does not have to be filed or registered.
A fixed term partnership is sometimes used where there is a clear end date for the partnership.
What are Capital Contributions ?
Capital Contributions are the assets that this Partner will contribute to the Company including cash, property and services. One Partner may provide cash while another Partner may provide engineering services. Or each Partner may contribute a combination of assets.
To help avoid confusion in the future you should describe these contributions thoroughly now. Be specific about quantities and amounts.
What are Partner Distributions ?
A distribution is an amount paid to each Partner usually out of the profits of the company. Distributions are paid in proportions that are agreed to by all Partners.
How can Profits and losses be distributed?
Profits and losses can be distributed: as a fixed percentage of profits (or losses) for each Partner; or as an equal share of profits (or losses) for each Partner; or in proportion to the capital contributions of each Partner.
Note that this distribution is specific to ongoing profits and losses and may be different from the method of asset distribution used later on liquidation.
How is a partnership managed
The day-to-day management of the company can be performed by an individual Managing Partner or through the equitable participation of all Partners through majority votes where necessary. Note that where there is a Managing Partner, many substantial issues will still be resolved by a vote of all Partners.
Who is a managing partner?
A partnership may have a managing partner who is responsible for managing the business. The managing partner will make all the day-to-day decisions of the partnership. All partners in a general partnership will have the right to participate in the management and control of the partnership unless the management obligations are delegated to one or more managing partners in the partnership agreement.
What is a minimum voting level
The rights of all Partners, including minority Partners, need to be respected. Some business decisions can substantially change the nature of the business, possibly greatly increasing the risk to individual Partners. In general, all Partners should have a voice in any decisions that could substantially affect their business interests.
What are the different voting methods?
On issues where Partners are required to vote, voting may be proportional to each Partner’s relative Capital Contribution or proportional to each Partner’s relative profit entitlement or there may be an equal vote where each Partner gets one vote.
Even though the Partnership will be managed day-to-day by a Managing Partner there will still be substantial issues that require a vote of the Partners.
What is unanimous consent
In general, business decisions will be resolved by a majority vote of the Partners. However where the impact on individual Partners will be significant, the Partnership may wish to resolve these decisions through a unanimous vote in order to protect the interests of all Partners.
How does a partnership end
The Partnership can end by agreement of the Partners or the Partners can expressly agree that the Partnership will end at a specified date, or upon completion of certain tasks. In some jurisdictions the Partnership may end on the death or bankruptcy of a Partner unless the Partnership Agreement expressly states otherwise.
Where there is no Partnership Agreement, the Partners can make a written submission to the other Partners to withdraw from the Partnership. A Partnership Agreement should protect the Partnership and the remaining Partners from the unexpected withdrawal of an essential Partner. If the voluntary withdrawal of a Partner offends a term of the Partnership Agreement, then the withdrawing Partner may be liable for any damages suffered by the Partnership or the remaining Partners.
Can a partner transfer their interest?
Yes, a Partner can transfer their interest in the Partnership, if the Partnership agreement does not restrict a transfer. If an individual Partner becomes bankrupt then a third party may have a claim against that Partner’s interest in the Partnership.
However, depending on the terms of the Partnership Agreement, the recipient of a transferred interest may not be given any power to vote or to participate in decision-making. The rights and obligations of a recipient of a Partnership interest may be limited to the profits and losses of the Partnership. This is to ensure that the remaining Partners are not affected by the extravagance or incompatible notions of an unexpected new Partner.
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