Frequently Asked Questions
What is a limited liability partnership?
A limited liability partnership offers its members the security of limited financial liability with the more flexible internal structure offered by a traditional partnership.
LLPs protect partners' personal assets, limiting their liability to the amount they invest and reducing financial risk.
Why should I choose to form an LLP?
A limited liability partnership is commonly used by industry professionals who normally work in partnerships, such as solicitors, architects and accountants, but who wish to protect their personal finances by way of limited liability.
Do I need to have a Partnership Agreement?
It is not a legal requirement to produce a Partnership Agreement, though it is recommended. This can help to prevent any disputes over partners' rights.
How many partners should an LLP have?
A limited liability partnership must have at least 2 members (partners) to be registered with Companies House. There is no upper limit to the number of partners an LLP can have.
What is the confirmation statement?
The confirmation statement is a document that must be filed annually, providing Companies House with up-to-date information about your company. This package includes the preparation and filing of your first confirmation statement.
Please note: This service does not include the Companies House filing fee of £50.00. At the time of filing your first confirmation statement, we will take payment of £50.00 using your payment card details securely stored in your account.
This service is renewable annually at the cost of £75.99 (including £50 Companies House Fee).
How do I open a business bank account?
When you place your order, you can select a free business bank account referral from up to 7 UK banking partners, including Barclays, NatWest, Monzo, Starling and Lloyds.
Once Companies House approves your company, your chosen bank will contact you directly to open your account.
Not a UK resident? Our Non-Residents Package includes a choice of 3 account referrals suitable for overseas customers: Payoneer, Wise and Revolut.
All accounts are subject to the bank’s approval.