£49 Includes VAT
Also included in Business Pack
Free Samples PDF | Word
When setting up a Limited Liability Partnership (LLP), it is vital to have a comprehensive agreement between the members of the LLP.
This download includes two versions of the LLP Agreement:
1. Standard LLP Agreement 2. Version for a Partnership converting to a Limited Liability Partnership
To form a Limited Liability Partnership, a free Form LL IN01 must be obtained from Companies House and submitted together with a fee. The Form LL IN01 only deals with the incorporation of the LLP; all the other vital details must be recorded within a Limited Liability Partnership Agreement.
These agreements set out in detail the members' capital contributions and rights & responsibilities to the LLP and each other. An LLP is a cross between a conventional partnership and a limited company.
The key advantage is that members of the LLP can limit their liability in the same way as a company. The only disadvantage is that like a company, the LLP has to be incorporated at Companies House and must file yearly accounts and an annual return with Companies House. The accounts and return are then available for inspection by anyone, so there is a loss of financial privacy.
There are two types of members (partners in a conventional partnership agreement) in an LLP - Members and Designated Members. Designated Members have additional management powers and obligations, which they must carry out - these are as follows:
These agreements contain the following clauses:
Customer Comments "Simple to complete and much cheaper than a lawyer" - Andy Simmons / Andy Simmons Design
Upgrade? CompactLaw Business Pack - contains this LLP agreement and many more business documents.
External Links GOV.UK - Companies House Form LL IN01
Any Questions? - Tel: 0845 166 8711 | 01442 390 133