Separate from partnerships, LLPs provide for limited liability and can offer favourable tax treatment. There is also greater flexibility in the management of LLPs and, as mentioned, these are increasingly used not only in the professional services sector but in other areas.
The key is to have a structure which is flexible enough for the members (partners) but also robust enough to ensure that the entity is properly protected with a balance between the key players. There is often an overlap between the interests of the parties and we bring our experience in advising on practical solutions to reach a mutually agreed position.
Together with their accountants, we help guide clients through choosing the correct structure for their venture and if that is an LLP, we assist with each stage of the LLP registration process and annual compliance requirements.
We take a practical and commercial approach to our clients’ requirements with the focus on the commercial considerations in drafting the partnership arrangements or its dissolution.
Services We Provide.
the level of personal investment required from each partner
the allocation of profits and losses between partners
procedural matters such as what should happen if a partner wishes to exit or a new partner is to be admitted
the procedures for resolving disputes and terminating the partnership
Please contact us if you have a corporate and commercial related query. We will check whether we can act for you and, if so, we will confirm the terms and conditions of our retainer with you in a client care or engagement letter
This may be the provision of ad hoc advice or the completion of a specific item of work. We will provide you with a fee estimate before carrying out any substantive work on a matter. If we provide advice over the telephone, we will not confirm the advice in writing unless specifically requested to do so
We will provide you with an estimated timescale for the completion of your work, factoring in any urgency
Please contact our Corporate and Commercial Team.
Our Corporate and Commercial team are happy to discuss any matters in relation to Partnerships and LLPscontact
Mergers & Acquisitions.
The key to success for a corporate transaction is thorough planning and structuring. We work closely with our clients and their advisers to ensure that the relevant steps are taken to implement the proposed structure, and that this carries through to the running of the business following completion.find out more