We advise on all matters relating to partnerships and limited liability partnerships, including:
- establishment or incorporation
- partnership agreements and members' agreements
- partnership disputes or disputes between LLP members
- retirements and expulsions
- new partners/members joining
- property joint venture LLPs
- professional partnerships
- LLPs in corporate structures
In some situations, partnerships and LLPs are a potential alternative entity to limited liability companies. Our up to date experience of the commercial practice, law and tax in this area enables us to make sure our clients have all the facts and can make fully informed choices.
Converting to LLPs
We have acted for a number of legal practices and other traditional partnerships converting to LLPs.
We have also advised numerous limited companies on transferring their businesses into LLPs.
We do not consider that such conversions for tax saving reasons only are a good idea. These kind of conversions work best where the nature of the business lends itself more appropriately to being operated on a partnership footing – where there are a group of "owners" with real mutual interests.
We have found such situations in a number of areas including professional practices, hi-tech and software businesses and temp agencies.
Case study - investment Strategy with a Number of LLPs
We act for a family with various property and other business interests. Working with their accountants and tax advisers we have refined a group structure over a period of years to optimise their investment strategy.
The group includes a number of LLPs and unlimited companies. Such arrangements can appear quite complex, but given our familiarity with our clients, their business interests and the relevant legal and tax issues we have been able to assist throughout to ensure their needs are met.
Case study - LLP for a Pharmacy Group
We acted for a venture capital backed pharmacy group which was growing organically by setting up a number of joint ventures with GPs. The requirements of the VC fund required that each individual pharmacy be operated through an LLP. The members of the pharmacy LLP were, in each case, a subsidiary company of the main group and another LLP formed by the doctors in each respective GP practice.
Our partnership /LLP Team comprises:
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