Limited liability partnerships: tax | Practical Law

Limited liability partnerships: tax | Practical Law

This practice note discusses the tax transparent treatment conferred on UK limited liability partnerships (LLPs), so that they and their members are broadly subject to the same tax treatment as ordinary partnerships and their partners. It also considers other key tax issues specific to LLPs, including the tax treatment of conversions to LLPs, and the employment tax and National Insurance contributions treatment of LLP members.

Limited liability partnerships: tax

Practical Law UK Practice Note Overview 3-107-3918 (Approx. 24 pages)

Limited liability partnerships: tax

by Elliot Weston and Fiona Bantock, Hogan Lovells International LLP
MaintainedEngland, Northern Ireland, Wales
This practice note discusses the tax transparent treatment conferred on UK limited liability partnerships (LLPs), so that they and their members are broadly subject to the same tax treatment as ordinary partnerships and their partners. It also considers other key tax issues specific to LLPs, including the tax treatment of conversions to LLPs, and the employment tax and National Insurance contributions treatment of LLP members.