Set up and run a limited liability partnership (LLP)
Explains your responsibilities, including choosing a name, having a registered address, appointing designated members and registering with Companies House.
You can set up (바카라 사이트榠ncorporate바카라 사이트�) a limited liability partnership (LLP) to run a business with 2 or more members. A member can be a person or a company, known as a 바카라 사이트榗orporate member바카라 사이트�.
Each member pays tax on their share of the profits, as in an 바카라 사이트榦rdinary바카라 사이트� business partnership, but they are not personally liable for any debts the business cannot pay.
You바카라 사이트檒l need to:
- choose a name
- have a registered address 바카라 사이트� this will be publicly available
- have at least 2 바카라 사이트榙esignated members바카라 사이트�
- have an LLP agreement that says how the LLP will be run
- register the LLP with Companies House
Check the rules if you바카라 사이트檙e setting up a limited partnership. The rules are different for setting up an ordinary business partnership or a private limited company.
Choose a name
Your name cannot be the same as, or too similar to, another registered company바카라 사이트檚 name.
Your name must end in 바카라 사이트楲imited Liability Partnership바카라 사이트� or 바카라 사이트�LLP바카라 사이트�. You can use the Welsh equivalents if your LLP is registered in Wales.
You cannot choose a name that might be considered the 바카라 사이트榮ame as바카라 사이트� or 바카라 사이트榯oo like바카라 사이트� an existing name if it바카라 사이트檚 too similar.
바카라 사이트楽ame as바카라 사이트� names
바카라 사이트楽ame as바카라 사이트� names include those where the only difference to an existing name is:
- certain punctuation or a special character, for example the 바카라 사이트榩lus바카라 사이트� sign
- a word or character that바카라 사이트檚 similar in appearance or meaning to another from the existing name
- a word or character used commonly in UK company names (for example, 바카라 사이트榗ompany바카라 사이트� or 바카라 사이트榗o바카라 사이트�)
Example
바카라 사이트楬ands UK Ltd바카라 사이트� and 바카라 사이트楬and바카라 사이트檚 Ltd바카라 사이트� are the same as 바카라 사이트楬ands Ltd바카라 사이트�.
You can only register a 바카라 사이트榮ame as바카라 사이트� name if:
- your LLP is part of the same group as the company or LLP with the existing name
- you have written confirmation that the company or LLP has no objection to your new name
You can read more guidance on naming your company if you바카라 사이트檙e not sure.
바카라 사이트楾oo like바카라 사이트� names
You may have to change your name if someone complains and Companies House agrees it바카라 사이트檚 바카라 사이트榯oo like바카라 사이트� a name registered before yours.
Example
바카라 사이트楨asy Electrics For You Ltd바카라 사이트� is the same as 바카라 사이트楨Z Electrix 4U Ltd바카라 사이트�.
If Companies House think your name is too like another, they will contact you and tell you what to do.
Other rules
Your LLP name cannot be offensive.
Your name also cannot contain a 바카라 사이트榮ensitive바카라 사이트� word or expression, or suggest a connection with government or local authorities, unless you get permission.
Example
To use 바카라 사이트楢ccredited바카라 사이트� in your company바카라 사이트檚 name, you need permission from the Department for Business and Trade (DBT).
Check which words you need permission to use, and who from.
Business names
You can trade using a different name to your registered name. This is known as a 바카라 사이트榖usiness name바카라 사이트�.
Business names must not:
- include 바카라 사이트榣imited바카라 사이트�, 바카라 사이트楲td바카라 사이트�, 바카라 사이트榣imited liability partnership, 바카라 사이트�LLP바카라 사이트�, 바카라 사이트榩ublic limited company바카라 사이트� or 바카라 사이트榩lc바카라 사이트�
- be the same as an existing trade mark
- contain a 바카라 사이트榮ensitive바카라 사이트� word or expression unless you get permission
You바카라 사이트檒l need to register your name as a trade mark if you want to stop people from trading under your business name.
You cannot use another company바카라 사이트檚 trade mark as your business name.
Displaying your name
There are rules you must follow about displaying your company name.
You can trade under your own name, or you can choose another name for your business (known as a 바카라 사이트榖usiness name바카라 사이트�). You do not need to register your business name.
You must include all the partners바카라 사이트� names and business name (if you have one) on official paperwork, for example invoices and letters.
Registered office address and email address
You must provide an 바카라 사이트榓ppropriate바카라 사이트� registered office address and email address when you set up a LLP.
The address you register must be:
- a physical address in the UK
- in the same country your LLP is registered in, for example a LLP registered in Scotland must have a registered office address in Scotland
An address is an 바카라 사이트榓ppropriate address바카라 사이트� if, in the ordinary course of events:聽
- a document addressed to the LLP, and delivered there by hand or by post, would be expected to come to the attention of a person acting on behalf of the LLP
- the delivery of documents there is capable of being recorded by the obtaining of an acknowledgement of delivery
You cannot use a聽Royal Mail PO Box聽or equivalent service as your registered office address.
You can use your home address but this will be聽publicly available on the Companies House register.
Register your limited liability partnership
You can register your LLP yourself, or you can use a formation agent to register your LLP for you.
We바카라 사이트檒l send you a certificate of incorporation when your LLP has been registered.
Register digitally
You can use third-party software to register your LLP.
It바카라 사이트檚 usually quicker to register your LLP using third-party software. You can also register your LLP the same day if you apply before 3pm.
It costs 拢50 to register your LLP using software. The same day service costs 拢78.
Register by post
Download and fill in the application to register a limited liability partnership.
It costs 拢71 to register your LLP on paper.
It usually takes longer to process paper applications sent by post.
Members바카라 사이트� responsibilities
You must have at least 2 바카라 사이트榙esignated members바카라 사이트� at all times 바카라 사이트� they have more responsibilities (for example, keeping company accounts). You can have any number of ordinary members.
Making the LLP agreement
You should make an LLP agreement with any other members as part of setting up your LLP. This sets out how the LLP will be run, including:
- how profits are shared among members
- who needs to agree decisions
- members바카라 사이트� responsibilities
- how members can join or leave the LLP
You can find a solicitor to help you prepare an agreement, or you can write your own.
Responsibilities of all members
Members must carry out their duties and meet their legal responsibilities set out in the LLP agreement.
Every member must register for Self Assessment with HM Revenue and Customs (HMRC).
Responsibilities of designated members
Designated members have more responsibilities than ordinary members and must:
- register the business for Self Assessment with HMRC 바카라 사이트� you must also register separately as an individual
- register the partnership for VAT if you expect your business바카라 사이트檚 sales to be more than 拢90,000 a year
- appoint an auditor if needed
- keep accounting records
- prepare, sign and send annual accounts to Companies House
- send a confirmation statement (previously annual return) to Companies House
Designated members must also:
- tell Companies House about any changes (for example, to the registered name or address, or members)
- act for the LLP if it바카라 사이트檚 wound up and dissolved
Designated members can be prosecuted if they do not meet their legal obligations. The LLP can also be taken off the register.
Changes you must report
You must tell Companies House about changes to the LLP바카라 사이트檚:
- registered or alternative address
- registered name
- members바카라 사이트� details (for example, name or address)
Use the to register your information online.
You can also use this service to tell Companies House which records you바카라 사이트檙e moving to the alternative address.
You can also send a paper forms to:
- change a registered address for an LLP
- change the address where you keep your records
- tell Companies House which records will be held at the alternative address
Change members바카라 사이트� details
Use the .
You can also file a paper form to:
Change your LLP바카라 사이트檚 name
You must tell Companies House if you change your LLP바카라 사이트檚 registered name. You can do this using third-party software or by post.
Change the name by software
It costs 拢20 to change your LLP바카라 사이트檚 name using third-party software.
Same day service
You can use the same day service to change your LLP바카라 사이트檚 name (by software only). The same day service costs 拢83.
You must apply before 3pm. If you apply after 3pm, your application will not be processed until the next working day.
Change the name by post
Download and fill in a notice of change of name of an LLP.
It costs 拢30 to send a paper application.
Use an agent
You can use a formation agent to register a name change for you. The cost depends on the agent.
Updates to this page
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Fees updated.
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The VAT threshold has increased from 拢85,000 a year to 拢90,000 a year.
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VAT Registration threshold: Increased from 拢83,000 to 拢85,000
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First published.