Scottish Limited Partnership (SLLP)

Limited Liability Partnership

 

A popular choice for those looking to establish a business partnership

Scottish LP

What is a Scottish Limited Liability Partnership?

A Scottish Limited Partnership (SLLP) is a company established between at least two partners; one being the main partner, who is responsible for running the business, and a limited partner who contributes cash or property. The limited partner is not legally or financially responsible for the business in the same way as the main partner.

Why choose an SLLP structure?

An SLLP allows for a tax-efficient strategy as they are considered “fiscally transparent” by HMRC, so the Partnership itself is not taxed, only the profits that go directly to the partners are taxed. As the partners are taxed directly, this means:

  • Non-UK residents will only pay UK tax on income that was earned in the UK, so any trade occurring offshore from the UK will only be taxed at the partner’susual tax rate, depending on their country of residency;
  • UK residents will be subject to the usual level of taxation for their income bracket, and will not be subject to multiple levels of tax (at personal and corporate level, for example).

The other major benefit of an SLLP is that the Partnership is its own legal entity; which means it can own its own property and conduct legal matters in its own name, not in the name of its partners.

Why Our Companies Are Better

Other formation agents incorporate companies with an “agent director” – an employee of the formation agent becomes the Founding Director for the new company, then resigns and transfers the shares to the customer. This frequently leads to confusion, and in the worst cases can cause damaging delays in financial transactions in the formative period for the company. At Formations House, the company is established with you, as our customer, as the Founding Director and shareholder from the outset. The Companies House registry will show you as owning the company from the outset, avoiding the possibility of these delays, and further confirming your company’s integrity.

Scottish Limited Liability Partnership £500

(excl. VAT)

Scottish Company Incorporation

Companies House Filing Fee

Digital Certificate of Incorporation

1 x Printed Certificate of Incorporation

Digital Memorandum & Articles of Association

1 x Printed Memorandum & Articles of Association

Free Online Portal to Manage your Company

2 hour consultancy to ensure the structure is done in the best way

Free .com or .co.uk Registration

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Getting Started

We require the proposed name of your Company and the address where the company will be registered . In addition, we will require the personal details of the director(s) to be registered with the company, in the instance the company is a charity then it must have at least three founding members/trustees.

Upgrades

As standard we provide model Memorandum & Articles as per Companies House

If you provide us with a customised Partnership agreement + £100

If you want us to provide you with a customised set of Partnership agreement + £350

 

Accounting

Formations House ensures that your company starts on the right foot. Our world-class accounting packages are tailor made to be simple, effective and easy to use right out of the box. 

Search

Use our simple online checker to see if your name is available.

Incorporate

Follow our step-by-step process to form your new company within 24 hours. 

Operate

Look through our various packages to begin to run your company the very next day. 

We Provide 24/7 Online Support

Help is never more than a click away, our advisers are able to answer any and all of your questions. 

Easy Access

No paper documents are required to be filled and all forms are available online. You will receive the original hard copy of the Incorporation Certificate by mail and all company documents (such as the memorandum & articles of association) will be easily available in PDF form online 24/7.

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400,000

With our innovative and low-cost service, we have taken the difficulty out of establishing a new Limited Company in the UK. With expertise honed since 2004, our business specialists have the knowledge to provide a bespoke service catered to your new business’s needs. Over four-hundred thousand companies have been incorporated with our pioneering low-cost electronic system.