Companies limited by shares, more commonly referred to as limited companies, are the most popular type of companies registered in the UK. This company structure is particularly popular, as the company exists as a separate legal entity from the individual owner.

You can view our limited by shares packages here.

A limited liability partnership (LLP) is an alternative type of business structure, which is popular with professionals who normally operate as a general partnership, such as solicitors, doctors and architects, but whose members require limited liability. The key differences between an LLP and a limited company are:

• An LLP does not have directors, shareholders or guarantors; instead it has members, who are more commonly referred to as 'partners'. There must be at least 2 members to register an LLP, but there is no upper limit to the number of members permitted.
• LLPs are governed by the Limited Liability Partnership Act 2000 and The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009, rather than the Companies Act 2006 which governs limited by shares companies.
• LLPs are taxed as partnerships, meaning they are not liable for Corporation Tax. Each member is personally responsible for paying Income Tax and National Insurance on their individual profit.
• They must have a minimum of 2 members, and at least 2 of the members must be ‘designated’ members who are responsible for ensuring all legal obligations of the company and its members are met.

You can view our LLP package here.

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