Ltd Or Llp???

[BLANS]

Does Anyone Know What Is The Differences Between The Ltd Ans Llp?....which One Is Better To Choose??

Merry Xmas To Everyone

 

[Scalloway]

See these pages at Business link

http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1073789611&type=RESOURCES

http://www.businesslink.gov.uk/bdot...1073865730&r.s=m&r.t=RESOURCES&type=RESOURCES

 

[Merchant UK]

Does Anyone Know What Is The Differences Between The Ltd Ans Llp?....which One Is Better To Choose??

Merry Xmas To Everyone

In the UK, a company identified as Ltd. is a "private company limited by shares", which is a private corporation.

A company identified as an LLP a "limited liability partnership", which is a special type of partnership.

Thus, an Ltd. is a corporation and an LLP is a partnership.

Perhaps the most important difference is the income tax treatment. An Ltd. is a taxpayer which pays a corporate tax on its income. An LLP is not a taxpayer and does not itself pay income tax: instead, the LLP's income is allocated and taxed to its partners, who must pay their proportionate tax (even if the partners themselves do not receive the actual profits).

 

[lockyer]

After the companies act 2006, neither offer the protection they used to. They merely give different tax benefits.

An LLP is generally seen as a Ltd company for industries, such as lawyers, who are unable to use Ltd co.

Whichever you choose please speak to a lawyer to get it set up properly.