Converting to an LLP
01/02/2012 in Corporate, Partnership & LLP
Originally conceived as a vehicle for use by professional practices to obtain the benefit of limited liability while retaining the tax advantages of a traditional partnership, limited liability partnerships (LLPs) have a far wider use as is evidenced by their increasing popularity as an alternative business vehicle in a wide range of sectors. Led by the conversion of the major accountancy practices and a significant number of law firms, many small owner managed limited companies have also decided to convert into LLPs.
This client guide considers the steps that need to be taken to convert an existing partnership or limited company into an LLP.
You can read the guide on "Converting to an LLP" here.