LLP vs Ltd - Why might you choose an LLP over a limited company?

It is essential to appreciate the pros and cons of LLPs and limited companies when setting up a business.
There are various pros and cons when it comes to LLPs compared to limited companies. The recent increase in the standard rate of corporation tax has extended the potential value of LLPs for higher-rate taxpayers. However, one of the significant potential drawbacks is that LLPs cannot retain profits from previous years. Distributions are taken monthly with a balance payment at the year-end when the total annual profits have been confirmed.
It is important that you take advice from your accountant as to the best setup for your business. While taxation is obviously an important consideration, there are many other factors to take into account.
Wilkins Southworth is a friendly accountants practice based in Barnes, South West London.
The practice has an international aspect that means we have built up a bank of experience in dealing with Double Taxation Treaties and liaising with tax offices around the world.
Business Tax and Property Tax Articles and Videos
Chris Wilkins is often invited to write tax and accounting articles for magazines, journals and trade publications.
www.wilkinssou...
Visit this section for a selection of articles that have been published in recent years.
For more information on the Bounce Back Loans Scheme or the accounting services we provide, please feel free to contact us by post, telephone, fax or e-mail using the details below.
Wilkins Southworth
Telephone: [phone]
E-mail: [e-mail]
*Property, Tax and Business articles*
wilkinssouthwo...
For more information please visit www.wilkinssou...
Wilkins Southworth 10-12 High Street,
Barnes,
London SW13 9LW
#llporpvtltd #LLPvsLTD #Ltdorllp

[@AndrewGodfery-e3j]

Jonathon Glens

[@DavidDobbs-h7q]

Therese Wall

[@soniathakkar3293]

Hello there, I am a tax resident and citizen of Finland, and I'm currently considering the incorporation of a Limited Partnership (LP) in British Columbia for my global trade business, focusing on import-export activities and online product sales in the EU market through platforms like Amazon. Given Finland's high tax system and social security contributions, I'm exploring the possibility of establishing my business entity in a jurisdiction with a more favorable tax environment. Furthermore, I have plans to relocate to a country offering a better lifestyle, a positive family environment, and a more advantageous tax system. In light of these considerations, I am in the process of exploring whether to incorporate as an LLP or LP in BC as a non-resident or possibly establish a Limited Liability Company (LLC) in European regions with lower tax rates. I am seeking guidance on how the earnings from these options can be optimally treated for personal tax optimization. Could you assist me in choosing the most suitable option for my circumstances? Your insights would be greatly appreciated.

[@wilkinssouthworthchartered6968]

Please drop a line on our web page contact section wilkinssouthworth.co.uk/contact-us as this is the quickest way to receive a response.

[@okunrin3]

Isn’t HMRC Spotlight 63 after this?

[@wilkinssouthworthchartered6968]

If you have questions about this or other Tax and Accounting issues then please drop a line on our web page contact section wilkinssouthworth.co.uk/contact-us as this is the quickest way to receive a response.

[@ChristopherSmith-k2k]

Sauer Walk

[@LuciusFrederica]

Lewis Sarah Gonzalez Jason Taylor Anthony

[@Jeffybonbon]

I have checked this out and a lot of lenders dont like LLPs

[@Jeffybonbon]

I am intested in LLP as a Landlord I use my car as a Landlord and i claim 45p a mile if i moved into and LLP can i still use this arrangment also would the title of my bussiness bank account change names

[@wilkinssouthworthchartered6968]

Please drop a line on our web page contact section wilkinssouthworth.co.uk/contact-us as this is the quickest way to receive a response.

[@FeltonGary-e3w]

Bettye Villages

[@AddisonModesty-f4q]

Kole Plains

[@AledkYedda-b6i]

Tremblay Burg