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UK Limited Partnerships

UK limited partnerships can be registered in England or Scotland. The registration of these entities is governed by the Limited Partnerships Act, 1907.

The attraction of the limited partnership vehicle is that despite being a UK registered entity (and under Scottish law having a separate legal personality) it is a “fiscal transparency”. In other words it is not subject to taxation in the UK. Only the partners of the limited partnership are liable to taxation. As the partners (a statutory minimum of one general partner and one limited partner) may be non-UK resident persons – including offshore companies – then it follows that a limited partnership can trade or carry on business in its own right free of UK tax liabilities outside the United Kingdom.

In summary the limited partnership is similar in concept to the more modern UK limited liability partnership (LLP).

However, one very significant distinction between the two entities is that the 1907 limited partnership is not required to publish statutory accounts provided it is structured appropriately.

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Jordans Limited
, Bristol: 0117 923 0600 London: 020 7400 3333 email:customerservices@jordans.co.uk
privacy policy | terms and conditions | disclaimer | statutory information

Jordans International Limited, Bristol: 0117 923 0600 London: 020 7400 3333 email:customerservices@jordans-international.com
privacy policy | terms and conditions | disclaimer | statutory information