Limited liability partnerships (LLPs) are incorporated at Companies House under the Limited Liability Partnership Act 2000. This means there are various LLP filing and reporting requirements to fulfil for both Companies House and HMRC, including preparing annual accounts and tax returns, filing confirmation statements, maintaining statutory registers, and reporting any changes to their registered details.<\/p>\n
The designated members of a limited liability partnership<\/a> are legally responsible for making sure that the business meets all of these statutory LLP filing and reporting obligations, which we outline below.<\/p>\n
Each member of an LLP is required to register for Self Assessment<\/a> to report and pay Income Tax and National Insurance on the personal earnings they receive through the partnership.<\/p>\n
LLPs are required to prepare annual accounts every year and deliver them to Companies House. LLP accounts<\/a> provide information on the financial performance and activities of the partnership during the previous financial year and should normally include:<\/p>\n
Limited liability partnerships must deliver a confirmation statement to Companies House<\/a> at least once every 12 months to confirm that the information registered at Companies House and displayed on public record is up to date.<\/p>\n
The details you must check and confirm on the confirmation statement include:<\/p>\n
Confirmation statements for an LLP can be filed online or delivered by post. It is quicker and easier to file online.<\/p>\n
The deadline for delivering a confirmation statement is normally 14 days after:<\/p>\n
The confirmation statement cannot be used to update any details about the LLP, apart from SIC codes. If you need to report any other changes, you must update the information separately using the appropriate Companies House forms for LLPs<\/a>, before filing the confirmation statement.<\/p>\n
Limited liability partnerships are required to maintain certain statutory registers at their registered office or SAIL address, or on the public register at Companies House.<\/p>\n
The statutory LLP registers that must be kept are the:<\/p>\n
It is commonplace for an LLP\u2019s details to change throughout its existence. Certain changes must be reported to Companies House and updated on the public record, including changes to the:<\/p>\n
Most of these changes should be reported within 14 days. Designated LLP members must also ensure that, where relevant, changes are updated in the LLP\u2019s statutory registers and confirmed on the next confirmation statement.<\/p>\n
LLPs are legally required to register for VAT if their VAT-taxable turnover exceeds \u00a390,000 (2024\/25 tax year). VAT registration<\/a>\u00a0is also available on a voluntary basis for businesses with a turnover below the registration threshold, which can offer a range of benefits.<\/p>\n
Whilst most LLP members are self employed, a limited liability partnership may still need to register as an employer<\/a> and operate PAYE if it employs other people, uses subcontractors under the Construction Industry Scheme, or if any LLP members are salaried rather than self-employed.<\/p>\n"},"excerpt":{"rendered":"