A Concise Tutorial on LLP Business:
This excerpt contains some common recommendations and suggestions, and it is recommended that you read in conjunction with the corresponding document or consult an expert. The limited liability partnership company came into being on the basis of the 2000, 2001 limited liability partnership company law, and the relevant regulations of the 2006 company law.
.png "A Concise Tutorial on LLP Business")
A limited liability partnership is a partnership that brings together the partners in the partnership into the company through a full range of legal protections.
This form of limited liability partnership is designed for professionals who are not allowed to set up a limited company due to the type of business, such as those working on intellectual property. Subsequently, this form has been effectively and widely used. Before embarking on the LLP formalities, it is important that you consult an expert on the reasonableness of setting up such a company, as the effect of such a company's business development depends to a large extent on the type of business chosen.
Generally speaking, the income of each
independent partner in the LLP is taxed separately. If a partner has been
stationed abroad for a long time (outside the UK) and has income from overseas
business, then this income is not required to be taxed in the UK. However, when
neither the partner nor the business is in the UK, InlandRevenue (Inland
Revenue Office) can challenge the legality and legitimacy of the business.
.png "A Concise Tutorial on LLP Business")
The articles of association should clearly state which party is the appointed partner or all participants are. The appointed partner is basically responsible for the company's affairs. In general, the rights and obligations of the responsible person are completely equal to those of other partners. The corresponding rights and obligations are jointly provided for by the limited liability partnership agreement and current English law. Partners appointed under the laws of the United Kingdom have significant responsibilities, in particular, their responsibilities include:
- Provide reports to the Bureau of Industry and Commerce to notify changes.
- Sign the company account on behalf of the partner.
- Delegate audit tasks
- Make a statement on behalf of the company in the event of a dispute or facing liquidation.
- Any partner also bears the legal responsibility for failing to perform the above obligations.
A limited liability partnership should have the phrase Limited Liability Partnership or LLP at the end of its name, and the name itself should not resemble the name of an existing company, Certain words on the content as partnerships and other UK companies are restricted.
A limited liability partnership must have at least two partners, If there is only one member in a partnership, the partnership cannot exist for more than 6 months. Each partner is a member of the partnership and can act on behalf of the partnership only if the partnership gives him powers.
If a partner of the company leaves the company or dies (or in the case of dissolution of the company partnership), or enters into an agreement with other partners, the other partners shall be notified on reasonable grounds, Any changes in membership should be logged.
The Incorporation page lists the basic requirements for registering a limited liability company, a company limited by shares, and an unlimited liability company
0 Comments:
Post a Comment