Our up-to-date experience of the commercial practice, law and tax processes in this area enables us to make sure our clients have all the facts and can make fully informed choices.
With offices in Leeds, Sheffield and York, we can offer legal advice about partnerships and LLPs either on a face-to-face basis, by phone or email. To get in touch, simply call 0333 323 5292 or fill in the enquiry form and we will be in touch.
We advise on all matters relating to partnerships and LLPs, 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.
Our partnerships and LLP team, headed by renowned corporate solicitor, Giles Clegg, has a wealth of experience in successfully creating LLPs. We pride ourselves on making the process simple and fuss-free so you and your partners can gain peace of mind.
Other key members of our team include:
Over our extensive 100-year history, we have worked with a wealth of businesses of all sizes and specialisms and have gained a reputation for exceeding the expectations of our clients.
Converting to a LLP
By converting your partnership into an LLP, you will be providing protection for any partners involved. An LLP will offer protection for partners’ personal assets by limiting their liability to the company only. A formal agreement must be drafted and agreed upon by all parties involved.
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 an LLP.
Whilst an LLP offers protection for personal assets, it does not offer any tax advantages for the business.
At Lupton Fawcett, we have provided legal advice and helped to draft LLP agreement for a wide range of organisations, including professional practices, hi-tech and software businesses and temp agencies.
Investment Strategy With a Number of LLPs
We acted for a family with various property and other business interests. Working with their accountants and tax advisers, we refined a group structure over a period of years to optimise their investment strategy.
The group included 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 were able to assist throughout to ensure their needs are met.
LLP for Pharmacy Group
We acted for a venture capital backed pharmacy group that was growing organically by setting up a number of joint ventures with GPs. The requirements of the venture capital funding required that each individual pharmacy 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.
Talk To Us
For advice on all aspects of corporate law, talk to our Yorkshire-based solicitors today by calling 0333 323 5292 or using the contact details on the enquiry form.