Why Choose an LLP Structure?

An LLP allows for a tax-efficient strategy as they are considered “fiscally transparent” by HMRC, so the Partnership itself is not taxed, only the profits that go directly to the partners are taxed. As the partners are taxed directly, this means:

• – Non-UK residents will only pay UK tax on income that was earned in the UK, so any trade occurring offshore from the UK will only be taxed at the partner’s usual tax rate, depending on their country of residency;
• – UK residents will be subject to the usual level of taxation for their income bracket, and will not be subject to multiple levels of tax (at personal and corporate level, for example).

LLPs are eligible to conduct regulated activity, so are able to apply for Financial Services Authority (FSA) approval.

Why Our Companies Are Better

Other formation agents incorporate companies with an “agent director” – an employee of the formation agent becomes the Founding Director for the new company, then resigns and transfers the shares to the customer. This frequently leads to confusion, and in the worst cases can cause damaging delays in financial transactions in the formative period for the company. At Formations House, the company is established with you, as our customer, as the Founding Director and shareholder from the outset. The Companies House registry will show you as owning the company from the outset, avoiding the possibility of these delays, and further confirming your company’s integrity.