Limited liability partnerships

At KAS Accountants Limited we provide accountancy, bookkeeping and tax services for limited liability partnerships commonly referred to as LLPs.

LLPs are required to be registered with Companies House as are limited companies accompanied with the requirement of filing annual accounts. One may therefore assume that LLPs and companies are similar but this is far from the truth. Some of the differences between limited companies and LLPs are as follows.

Stakeholders - Under limited companies the key stakeholders are the directors and shareholders. In LLPs, directors are referred to as designated members and shareholders as members.

Taxation - Under Self Assessment, the profits of a limited company are subject corporation tax whereas under an LLP the profits are taxable on each member within the LLP and according to their profit share ratio as per the Members Agreement.

One of the key similarities between a limited company and an LLP is that of the limited liability status. The key stakeholders in such business trading entities can protect themselves under the limited liability status.


KAS Accountants Limited offers the following services in relation to LLPs

  • Setting up a limited liability partnership and liaising with Companies House and HMRC
  • Preparing and filing limited liability partnership accounts for submission to Companies House and HM Revenue & Customs
  • Preparing and filing the partnership's Self Assessment Tax Return
  • Assistance with opening a business bank account
  • Acting as the LLP's agent with HMRC
  • Registration under PAYE if you decide to become an employer
  • Preparation and filing of period end and annual PAYE Returns
  • Personal tax advice in relation to Self-Assessment for limited liability partnership partners
  • Preparing and filing Self Assessment Tax Returns for partners and advising you on how much income tax to pay HMRC every January and July


Phone us on +44 (0) 7967 635740 or email us at kasaccountancy@yahoo.com if you require further information.

Managing Partner

Mr Kaleem A Saeed is a Fellow member of the Association of Chartered Certified Accountants.

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