What are the annual requirements of a LLP?

Modified on Sun, 19 Jul 2020 at 02:12 PM

A LLP is subject to the same rules as a limited company, and must send a confirmation statement and annual accounts to Companies House. 

At least two members must be named as ‘designated members’ and bear the responsibility of filing annual accounts and returns. Individual members are responsible for paying income tax on their share of company profits. The partnership itself is not liable for corporation tax or any other tax.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select atleast one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article