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A Limited Liability Partnership (LLP) has a similar structure to a traditional partnership with the added benefit of limited liability. A minimum of two designated members must be appointed at all times and they are responsible for the general management of the LLP.
A key difference between an LLP and a Limited company becomes apparent when considering the taxation duties. The members of an LLP pay tax on their personal income in the absence of corporation tax.
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Simple Formations is a trading name of Small Firms Services Limited. We have been trading since 1998 and are one of the UK's longest standing Company Formation Agents
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