Company registration

Separated from the European continent by the North Sea and English Channel, the United Kingdom (informally referred to as Britain) includes England, Scotland, Wales, and Northern Ireland.

The United Kingdom is an industrially developed country with a high rating and a standard level of taxation. It is a member of the EU, UN, NATO and other international organisations.

The economy of the UK is amongst the five largest in Europe. The capital is London which is one of the leading financial and business centres of the world.

Whilst the UK is a country with a standard level of taxation, British companies are widely used in practice as a vehicle for tax planning.

Limited Liability Partnership (LLP) is the latest business vehicle in UK which was introduced on 6 April 2001 after The Limited Liability Partnerships Act 2000 received Royal Assent on 20 July 2000. The introduction date was used to coincide with the Inland Revenue tax year due to the way that LLP’s are taxed. LLP may be seen as a hybrid between limited liability companies and traditional partnerships, in that it offers the limited liability available to limited company shareholders combined with the tax regime and flexibility available to partnerships. Prior to this legislation, it was only a Private or Public Limited company that offered all of its members limited liability. The key advantage of a LLP compared with a traditional partnership is that the members of the LLP (it is important that they should not be called partners but members) are able to lim it their personal liability if something goes wrong with the business, in much the same way as shareholders in a limited company are able to.