Limited liability partnerships (LLP): overview

Resource type: Practice note: overview

Status: Maintained

Jurisdiction: United Kingdom

An overview of the structure and operation of a limited liability partnership (LLP) incorporated under the Limited Liability Partnerships Act 2000. This note contains the law from 1 October 2009.

For details of the law applicable to limited liability partnerships before 1 October 2009, see Practice note, Limited liability partnerships: overview: pre-1 October 2009.

PLC Corporate

Register for free access

To access this resource and thousands more, register for a free, no-obligation trial of Practical Law. Register using the button below, telephone +44 (0)20 7202 1220 or e-mail info@practicallaw.com.

A free trial will give you:

✔	Unlimited access to Practical Law online know-how
✔	Thousands of market standard documents and clauses
✔	Daily alerts and weekly update e-mails on key legal developments in your practice area
	Register

Log in

To access this resource, log in below or register for free access.

Contact us

Our customer services team are available every working day 8.30am to 7pm (GMT).

Actions

Resource information

Show resource details Hide resource details

Resource ID: 4-107-3913
Products: PLC UK Construction, PLC UK Corporate, PLC UK Finance, PLC UK Financial Services, PLC UK Law Department, PLC UK Private Client, PLC UK Property, PLC UK Public Sector, PLC UK Restructuring and Insolvency
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

Ask a question

Related content

Topics

Conveyancing ProcedureConveyancing Procedure (http://publicsector.p01del.practicallaw.com/8-103-2082)
Investment FundsInvestment Funds (http://publicsector.p01del.practicallaw.com/6-103-1352)
Lending: GeneralLending: General (http://publicsector.p01del.practicallaw.com/1-103-2033)
Miscellaneous: FinanceMiscellaneous: Finance (http://publicsector.p01del.practicallaw.com/3-103-1103)
Owner-managed BusinessesOwner-managed Businesses (http://publicsector.p01del.practicallaw.com/7-376-4394)
Partnerships and LLPsPartnerships and LLPs (http://publicsector.p01del.practicallaw.com/5-103-2045)
Professional Appointments and LiabilitiesProfessional Appointments and Liabilities (http://publicsector.p01del.practicallaw.com/8-381-2950)
Real Estate Finance and InvestmentReal Estate Finance and Investment (http://publicsector.p01del.practicallaw.com/9-103-2086)
Restructuring and InsolvencyRestructuring and Insolvency (http://publicsector.p01del.practicallaw.com/9-103-2072)
Restructuring and Insolvency: Basic ConceptsRestructuring and Insolvency: Basic Concepts (http://publicsector.p01del.practicallaw.com/5-103-1263)
Security and Quasi SecuritySecurity and Quasi Security (http://publicsector.p01del.practicallaw.com/6-103-1106)
Title IssuesTitle Issues (http://publicsector.p01del.practicallaw.com/6-103-1328)

Practice note: overview

A toolkit for forming a limited company A toolkit for forming a limited company (http://crossborder.practicallaw.com/topic8-518-3444)
A toolkit for limited liability partnerships A toolkit for limited liability partnerships (http://crossborder.practicallaw.com/topic8-518-3745)
Limited liability partnerships: materials Limited liability partnerships: materials (http://crossborder.practicallaw.com/topic5-107-3903)
Partnerships and LLPs: key developments tracker Partnerships and LLPs: key developments tracker (http://crossborder.practicallaw.com/topic3-526-7587)

Practice notes

How to incorporate a limited liability partnership under the Limited Liability Partnerships Act 2000 How to incorporate a limited liability partnership under the Limited Liability Partnerships Act 2000 (http://crossborder.practicallaw.com/topic6-517-6703)
Insolvency procedures for limited liability partnerships Insolvency procedures for limited liability partnerships (http://crossborder.practicallaw.com/topic1-503-8295)
Insolvent LLPs: reviewable transactions and liability of members Insolvent LLPs: reviewable transactions and liability of members (http://crossborder.practicallaw.com/topic7-508-1021)
Limited liability partnerships: accounts Limited liability partnerships: accounts (http://crossborder.practicallaw.com/topic7-382-3195)
Limited liability partnerships: application of Companies Act 2006 to LLPs Limited liability partnerships: application of Companies Act 2006 to LLPs (http://crossborder.practicallaw.com/topic5-382-1282)
Limited liability partnerships: names and trading disclosures Limited liability partnerships: names and trading disclosures (http://crossborder.practicallaw.com/topic6-507-1904)
Limited liability partnerships: overview: pre-1 October 2009 Limited liability partnerships: overview: pre-1 October 2009 (http://crossborder.practicallaw.com/topic8-422-4945)
Limited liability partnerships: tax Limited liability partnerships: tax (http://crossborder.practicallaw.com/topic3-107-3918)
Mutualising public services Mutualising public services (http://crossborder.practicallaw.com/topic7-507-2663)
Partnership law for employment lawyers Partnership law for employment lawyers (http://crossborder.practicallaw.com/topic1-201-7041)
Property transactions involving limited liability partnerships Property transactions involving limited liability partnerships (http://crossborder.practicallaw.com/topic1-107-3924)
Team moves from an LLP or general partnership Team moves from an LLP or general partnership (http://crossborder.practicallaw.com/topic9-521-2766)
Third parties and limited liability partnerships Third parties and limited liability partnerships (http://crossborder.practicallaw.com/topic3-107-3923)

Standard documents

Deed of adherence to a limited liability partnership agreement Deed of adherence to a limited liability partnership agreement (http://crossborder.practicallaw.com/topic3-386-0811)
Deed of retirement from a limited liability partnership agreement Deed of retirement from a limited liability partnership agreement (http://crossborder.practicallaw.com/topic5-385-8020)
Limited liability partnership agreement Limited liability partnership agreement (http://crossborder.practicallaw.com/topic1-107-4829)
Transfer of a general partnership to an LLP: deed of assignment of goodwill and intellectual property rights Transfer of a general partnership to an LLP: deed of assignment of goodwill and intellectual property rights (http://crossborder.practicallaw.com/topic6-502-2819)
Transfer of a general partnership to an LLP: novation agreement Transfer of a general partnership to an LLP: novation agreement (http://crossborder.practicallaw.com/topic7-502-2786)
Transfer of a general partnership to an LLP: transfer agreement Transfer of a general partnership to an LLP: transfer agreement (http://crossborder.practicallaw.com/topic5-502-2706)

Standard clauses

Execution formalities: limited liability partnerships: 1 October 2009 Execution formalities: limited liability partnerships: 1 October 2009 (http://crossborder.practicallaw.com/topic9-500-2160)
Execution formalities: limited liability partnerships: pre-1 October 2009 Execution formalities: limited liability partnerships: pre-1 October 2009 (http://crossborder.practicallaw.com/topic2-107-4485)

Drafting notes

Deed of adherence to a limited liability partnership agreement: drafting note Deed of adherence to a limited liability partnership agreement: drafting note (http://crossborder.practicallaw.com/topic5-386-0810)
Deed of retirement from a limited liability partnership: drafting note Deed of retirement from a limited liability partnership: drafting note (http://crossborder.practicallaw.com/topic7-386-0809)

Checklists

Checklist: Limited liability partnerships: accounts exemptions for small, medium-sized and group LLPs Checklist: Limited liability partnerships: accounts exemptions for small, medium-sized and group LLPs (http://crossborder.practicallaw.com/topic0-382-3194)
Checklist: Setting up a limited liability partnership Checklist: Setting up a limited liability partnership (http://crossborder.practicallaw.com/topic2-508-7346)
Joining a limited liability partnership as a member: checklist Joining a limited liability partnership as a member: checklist (http://crossborder.practicallaw.com/topic1-386-0812)
Retirement from a limited liability partnership: checklist Retirement from a limited liability partnership: checklist (http://crossborder.practicallaw.com/topic9-386-0808)

Glossary

Limited liability partnership (LLP) Limited liability partnership (LLP) (http://crossborder.practicallaw.com/topic2-107-6762)
LLP LLP (http://crossborder.practicallaw.com/topic2-107-6776)
Partnership Partnership (http://crossborder.practicallaw.com/topic8-107-6976)

Article

Derivative actions: members only? Derivative actions: members only? (http://crossborder.practicallaw.com/topic6-525-3715)

Legal update: archive

Ask the team: How can a member of an LLP transfer his share in it to a new member? Ask the team: How can a member of an LLP transfer his share in it to a new member? (http://crossborder.practicallaw.com/topic4-388-0620)
Ask the team: LLP tax transparency, entrepreneurs' relief and share sales Ask the team: LLP tax transparency, entrepreneurs' relief and share sales (http://crossborder.practicallaw.com/topic0-507-0323)

Book

Limited Liability Partnerships Handbook, 3rd Edition Limited Liability Partnerships Handbook, 3rd Edition (http://crossborder.practicallaw.com/topicB-000-1820)

Limited liability partnerships (LLP): overview

Register for free access

Log in

Contact us

Cookie Policy